Jeffrey Epstein.
The presiding judge in the civil litigation between the government of the Virgin Islands and JPMorgan, in which former JPMorgan banking executive Jes Staley is a third party-defendant, has ruled on two motions that were filed by the bank and by Staley, respectively.
In the matter of depositions of witnesses presented by the Government of the Virgin Islands who the bank claims were completely ill-prepared to answer basic questions, Judge Jed Rakoff decided on Thursday that the USVI must now present a properly-prepared witness to answer questions on two topics: what monetary relief the government sought in its claim against Jeffrey Epstein’s estate, and how the proceeds of that settlement are planning to be used, as well as how much relevant government officials knew about Cecile de Jongh’s employment with one of Epstein’s USVI-registered businesses.
The USVI must also make available former Attorneys General Vincent Frazer, Denise George, and Carol Thomas-Jacobs to answer questions about Epstein’s registration as a sex offender, as well as any monitoring that occurred as a result. However, Judge Rakoff denied the bank’s request to have witnesses presented that are able to answer questions about investigations into Epstein or his companies by the Economic Development Authority. The bank’s bid to have the territory foot the bill for the additional question and answer sessions was also denied. The additional depositions, the judge ordered, must be completed by July 14.
Meanwhile, on June 28, Mr. Staley’s bid to require the bank to produce certain documents it claims are privileged, has been denied by Judge Rakoff. Mr. Staley’s legal team had argued that those documents were key to understanding what the bank’s general counsel knew about Jeffrey Epstein when assessing the financial institution’s business relationship with the convicted sex offender, and what information the bank relied upon to make decisions about retaining Epstein as a client. JPMorgan is suing Mr. Staley, claiming that he is liable for any damages the bank is assessed as a result of the GVI lawsuit or others that may be pending.
The Virgin Islands, meanwhile, claims that JPMorgan and its executives looked the other way while Epstein used his accounts with the financial institution to facilitate his criminal enterprise.
