Bank’s links to sex offender financier deeper than previously known, as it faces lawsuit brought by US Virgin Islands
, Mary Erdoes, who now runs JP Morgan’s $4tn asset and wealth management business, visited Epstein’s townhouse on Manhattan’s Upper East Side in 2011 and 2013. Erdoes has previously said through a spokesperson that the only time she remembered “formally meeting” Epstein was the day she fired him as a client.
Some of those meetings have been characterized as concerning a multibillion-dollar donor-advised philanthropy fund Epstein had pitched to JP Morgan that could help bring wealthy clients in Epstein’s orbit to the bank. “See below new allegations of an investigation related to child trafficking – are you still comfortable with this client who is now a registered sex offender,” one compliance officer wrote in a 2010 email.
Other accusations included that JP Morgan knew Epstein “routinely” made $40,000 to $80,000 cash withdrawals several times a month. In a deposition, Erdoes has said that her employer had been aware that Epstein had been accused of paying cash to have “underage girls and young women” brought to his home some seven years before the bank dropped him as a client.
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