JPMorgan Chase maintained banking relationships with Jeffrey Epstein from 1998 until 2013, managing approximately 55 separate accounts under its private banking division. The bank kept Epstein as a client five years after his 2008 Florida conviction for soliciting a minor, in large part because senior executive Jes Staley, who headed the private wealth division, vouched for Epstein internally and exchanged roughly 1,200 emails with him between 2008 and 2012. Internal compliance flags were repeatedly overridden.
In 2023, JPMorgan agreed to pay $290 million to settle a lawsuit brought by Epstein survivors and a further $75 million to settle claims brought by the U.S. Virgin Islands. The bank also sued Staley, alleging he concealed or minimized Epstein's conduct to protect a lucrative account.
Senate Finance Committee investigators estimated JPMorgan processed over $1 billion in transactions for Epstein during the 15-year relationship. The bank stated it "deeply regrets any association with this man."