Jeffrey Epstein’s accusers are suing Deutsche Bank and JPMorgan, accusing them of ignoring ‘blatant red flags’ that enabled ‘commercial sex trafficking’

Jeffrey Epstein was arrested on charges of sex trafficking prior to his death in prison in 2019.

Accusers of Jeffrey Epstein are suing Deutsche Bank and JPMorgan, filings show.
Lawyers for the plaintiffs accuse the banks of ignoring red flags around Epstein’s activities.
Epstein would send money to young women and withdraw large sums to pay victims, per the lawsuits.

People who accused Jeffrey Epstein of sexual abuse are suing Deutsche Bank and JPMorgan, accusing the banks of enabling the late billionaire’s alleged “commercial sex trafficking enterprise.”

Two filings brought Thursday in a New York federal court, and shared with Insider, accused the banks of facilitating the financier’s financial activities that they argued should have drawn more scrutiny given his status as a registered sex offender. The Wall Street Journal first reported the story.

“Deutsche Bank also knew that Epstein would use means of force, threats of force, fraud, abuse of legal process, exploitation of power disparity, and a variety of other forms of coercion to cause young women and girls to engage in commercial sex acts,” the lawsuit stated.

The lawsuit cites a 2020 investigation by the New York State Department of Financial Services into Deutsche’s links with Epstein and Epstein-related entities in which the bank agreed to pay $150 million to resolve the case after finding Deutsche Bank failed to properly monitor Epstein’s financial activity.

A spokesperson for Deutsche Bank told Insider in a statement: “We believe this claim lacks merit and will present our arguments in court.” 

JPMorgan is being pursued over Epstein’s “symbiotic” relationship with Jes Staley, who was previously head of its private banking division. Staley resigned as CEO of Barclays in November 2021 after an investigation by UK regulators into his ties with Epstein. 

“To put it plainly, Epstein needed a bank that knew he was …read more

Source:: Businessinsider

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