by Pam Martens and Russ Martens, Wall St On Parade:
At a March 13 court hearing this year, prominent attorney, David Boies, argued in open court that the largest federally-insured bank in the United States, JPMorgan Chase – which has more than 5,000 Chase bank branches holding mom and pop savings from coast to coast – had used a private jet owned by the bank’s hedge fund, Highbridge Capital, to transport girls for Epstein’s sex trafficking operation.
A January 13, 2023 amended complaint filed by Boies’ law firm, elaborated on the allegation as follows:
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“As another example of JP Morgan and [Jes] Staley’s benefit from assisting Epstein, a highly profitable deal for JP Morgan was the Highbridge acquisition.
“In 2004, when Epstein’s sex trafficking and abuse operation was running at full speed, Epstein served up another big financial payday for JP Morgan.
“Epstein was close friends with Glenn Dubin, the billionaire who ran Highbridge Capital Management.
“Through Epstein’s connection, it has been reported that Staley arranged for JP Morgan to buy a majority stake in Dubin’s fund, which resulted in a sizeable profit for JP Morgan. This arrangement was profitable for both Staley and JPMorgan, further incentivizing JP Morgan to ignore the suspicious activity in Epstein’s accounts and to assist in his sex-trafficking venture.
“For example, despite that Epstein was not FINRA-certified, Epstein was paid more than $15 million for his role in the Highbridge/JP Morgan deal.
“Moreover, Highbridge, a wholly-owned subsidiary of JP Morgan, trafficked young women and girls on its own private jet from Florida to Epstein in New York as late as 2012.”
This allegation is unique and explosive because it moves JPMorgan Chase from being just a cash facilitator for Epstein’s sex-trafficking of underage girls to engaging directly in the sex-trafficking. Unfortunately, the American people may never get to see the evidence that proves or disproves that critical allegation because of a settlement in the case.
David Boies has been the Chairman of the law firm, Boies Schiller Flexner, since its founding in 1997. He and his law partner, Sigrid McCawley, know more about the sex-trafficking operations of Jeffrey Epstein than any other two lawyers on the planet. That’s because they have won the confidence of Epstein’s victims to confide in them the grotesque details of the sex trafficking operation and name names, including which of Epstein’s friends they were trafficked out to. The Boies firm has been settling claims for various Epstein’s victims for years now.
Two high profile lawsuits are now pending in federal court in Manhattan against JPMorgan Chase for its role in functioning as Jeffrey Epstein’s cash conduit for more than a decade to pay off his victims and launder money to his accomplices (such as Ghislaine Maxwell). One of the cases was brought by Boies and McCawley and their team of lawyers. The related case was brought by the Attorney General of the U.S. Virgin Islands, where Epstein owned an isolated island compound and flew underage girls in and out.
Both lawsuits were consolidated for pre-trial discovery under Judge Jed Rakoff, who seems to get a curious number of sensitive JPMorgan cases where critical details are lost to darkness under redactions and protective orders. (See Judge Rakoff Signs a Dangerous Protective Order in Whistleblower Case Against 5-Count Felon JPMorgan Chase.)
After JPMorgan was confronted with overwhelming internal email evidence, obtained during discovery and documented further during depositions, that the bank played a central and pivotal role in allowing Epstein’s operations to continue for more than a decade by providing him with millions of dollars in cold, hard cash from his accounts, in brazen violation of anti-money laundering laws, the bank decided on June 12 to settle the Boies case on behalf of Epstein’s victims for $290 million.
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