Epstein's accusers are suing JPMorgan and Deutsche Bank for allegedly covering up his sexual abuse
By: April Carson
Two women who accuse the late Jeffrey Epstein of sexual abuse have filedseparate civil lawsuits against JP Morgan Chase & Co. and Deutsche Bank AG, claiming that the big banks enabled his alleged sex trafficking operationand benefitted financially from it.
The class action suits were filed, in part, due to a new law in New York that allows adult sexual abuse survivors more time to sue their alleged abuser. Each lawsuit alleges that the banks were aware of Epstein's illicit activities, but chose to ignore them in order to maintain their business relationships with him.
Acquitted of sex trafficking charges in 2008, Epstein was awaiting trial on new federal charges accusing him of operating a sex trafficking ring from 2002 to 2005 at his Manhattan mansion and Palm Beach estate when he died. He was also accused of luring dozens of underage girls to his homes and paying them for sex.
The lawsuit against JPMorgan claims that the bank favored the sex-trafficking venture, which led to more young women and girls being sexually abused.
According to the lawsuit, without the financial institution's participation, Epstein's sex trafficking scheme would not have been possible. The suit claims JPMorgan's actions enabled Epstein to maintain his lifestyle and "was a substantial factor in causing the plaintiffs' injuries, losses, and damages."
A second lawsuit filed on Thursday by an anonymous woman, representing a class of plaintiffs, stated that when JP Morgan started to edge away from Epstein in 2013, Deutsche Bank became the bank he needed to finance his sex abuse and trafficking operation.
The lawsuit states that, "Deutsche Bank knew full well that they would make millions of dollars from continuing to help Epstein with his sex trafficking ring and their relationship. But rather than following the law, they chose profit."
The lawsuit states that Deutsche Bank deliberately turned a blind eye to payments made to several young women and cash withdrawals larger than normal.
In 2020, New York regulators fined Deutsche Bank $150 million for its relationship with Epstein, which was full of "mistakes and sloppiness."
The regulator noted that as soon as Epstein became a client, the bank was made aware of past accusations against him and his accomplices on several occasions.
At the time, Deutsche Bank admitted its error in onboarding Epstein in 2013 and lack of process, vowing to learn from its mistakes.
JPMorgan, on the other hand, is being accused of knowing that Epstein was running a sex trafficking operation and helping him cover it up.
The complaint alleges that JPMorgan had knowledge of Epstein's "unlawful activities" but continued to do business with him as long as he made consistent payments.
The suit states that without Deutsche Bank's assistance, Epstein could not have abused or trafficked as many young women as he did between 2013 and 2018.
Brian Blackstone, Head of Communications for the American Region at Deutsche Bank AG tells CNN that they will be presenting their arguments in court because the claim against them lacks any merit.
The plaintiffs are asking for an unknown amount of money to be decided by a jury trial.
JPMorgan is also being accused of negligence for keeping Epstein as a client and continuing to offer him banking services despite their awareness of his criminal activities.
The suit states that JPMorgan should have alerted federal regulators when they became aware of Epstein's illicit behavior, which would have prevented the abuse from continuing.
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About the Blogger:
April Carson is the daughter of Billy Carson. She received her bachelor's degree in Social Sciences from Jacksonville University, where she was also on the Women's Basketball team. She now has a successful clothing company that specializes in organic baby clothes and other items. Take a look at their most popular fall fashions on bossbabymav.com
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