JPMorgan Chase sued its former executive Jes Staley on Wednesday, alleging that he aided in hiding Jeffrey Epstein鈥檚 yearslong sex abuse and trafficking in order to keep the financier as a client.
The New York bank seeks to hold Staley personally liable for any financial penalties that JPMorgan may have to pay in two related cases. It is also seeking to force Staley to pay back any wages he earned during the time he allegedly was aware of the abuse.
鈥淚n light of Staley鈥檚 intentional and outrageous conduct in failing to disclose pertinent information and abandoning (JPMorgan鈥檚) interests in favour of his own and Epstein鈥檚 personal interests, (the bank) is entitled to punitive damages,鈥 the bank said in its lawsuit.
A lawyer for Staley had no comment on the JPMorgan's lawsuit.
JPMorgan's lawsuit was filed after the bank was sued by the government of the U.S. Virgin Islands as well as by a woman identified as Jane Doe, who was allegedly abused by Epstein. Those lawsuits claim JPMorgan should have seen evidence of Epstein's sex trafficking and knowingly benefited from it. The bank denies the allegations.
Staley left JPMorgan in 2013. Last year he resigned as CEO of London-based Barclays following a report by UK regulators into his past links with Epstein.
____
AP Business Writer Barbara Ortutay contributed to this report from San Francisco.
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