JPMorgan processed Epstein payments to young women for 5 years after conviction

JPMorgan Chase maintained Jeffrey Epstein as private banking client from 2008-2013 despite his registered sex offender status, processing hundreds of millions in transactions while earning substantial management fees from his accounts valued at over $100 million.

Bank compliance officers repeatedly flagged Epstein suspicious activity reports including $40,000-$80,000 weekly cash withdrawals and frequent payments to young women, documenting concerns about potential money laundering and victim payments.

Executive JSJes Staley personally overrode compliance warnings from 2008-2012, maintaining Epstein relationship while exchanging over 1,200 emails including visits to Epstein private island and coded references to young women as Disney characters.

JPMorgan internal emails from 2008 noted Epstein routinely withdrew large cash amounts likely to pay girls while bank continued relationship for five years after his conviction, prioritizing fee income over compliance obligations.

Deutsche Bank immediately accepted Epstein as client in Aug. 2013 when JPMorgan terminated accounts, processing suspicious transactions until 2018 death despite knowing his criminal background and reputational risks.

Financial regulators fined Deutsche Bank $150 million in Jul. 2020 for compliance failures and JPMorgan settled victim lawsuits for $290 million in Jun. 2023, acknowledging institutional failures in monitoring criminal client.

Staley resigned from Barclays in 2021 when UK regulators investigated whether he mischaracterized Epstein relationship, while JPMorgan sued him for allegedly misleading bank about criminal associate conduct.