"Epstein had long been a treasured customer at JPMorgan. His accounts were brimming with more than $200 million. He generated millions of dollars in revenue for the bank, landing him atop an internal list of major money makers. He helped JPMorgan orchestrate an important acquisition. He introduced executives to men who would become lucrative clients, like the Google co-founder Sergey Brin, and to global leaders, like Prime Minister Benjamin Netanyahu of Israel. He helped executives troubleshoot crises and strategize about global opportunities."
"But a growing group of employees worried that JPMorgan's association with a man who had pleaded guilty to a sex crime-and was under federal investigation for human trafficking-could harm the bank's reputation. [Ed. Note: Ya think?] Just as troubling, anti-money-laundering specialists within the bank noticed Epstein's pattern of withdrawing tens of thousands of dollars in cash virtually every month. These were red flags for illicit activity."
Jeffrey Epstein maintained more than $200 million in JPMorgan accounts and generated millions in revenue, placing him atop the bank's internal list of major money makers. He assisted JPMorgan with transactions, introduced executives to lucrative clients and global leaders, and advised on crises and global opportunities. Bank employees worried that his prior sex-crime plea and a federal human-trafficking investigation posed reputational risk. Anti-money-laundering specialists detected recurring monthly cash withdrawals of tens of thousands of dollars, signaling red flags for illicit activity. JPMorgan compliance leaders pushed to terminate the relationship while Jes Staley defended Epstein and resisted dismissal.
Read at Esquire
Unable to calculate read time
Collection
[
|
...
]