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JPMorgan Bank Severed Ties With Crooked Clients After Bernie Madoff's Arrest But Convicted Perv Jeffrey Epstein Was Cleared: Lawsuit

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Apr. 13 2023, Published 7:00 p.m. ET

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JPMorgan Bank executives cleansed their client list after Bernie Madoff's arrest but Jeffrey Epstein somehow avoided being cut off, RadarOnline.com has learned.

The banking giant is fighting off two lawsuits in Manhattan federal court for allegedly turning a blind eye to Epstein’s operation and allowing him to set up shell companies to funnel payments to victims and lackeys working for his criminal organization.

Court documents filed by one of the victims - known as Jane Doe 1 – charges JPMorgan executives conducted a comprehensive review of suspicious clients following the 2008 arrest of Madoff, the Wall Street investment advisor who ran a $50 billion Ponzi scheme.

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That same year, Epstein was sentenced to a 13-month sweetheart deal in county jail after pleading guilty of soliciting prostitution from a minor in West Palm Beach, Florida.

“In 2008, around the same time Epstein was pleading guilty to felony sex offenses and registering as a lifetime sex offender, JP Morgan learned that another of its high value clients, Bernie Madoff, was running the largest Ponzi scheme in modern history through his accounts at JP Morgan,” the lawsuit states.

“This led to JP Morgan reviewing its clientele with the directive of severing ties with any problematic customers. With indisputable publicly available knowledge that Epstein was a sexual offender who was using his wealth to run a sexual abuse and trafficking operation, any responsible bank providing only routine banking support would have cut ties with Epstein.”

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But instead of cutting ties with Epstein’s billions, JPMorgan’s head of private banking, Jes Staley, continued a “profound friendship” with the creep – even exchanging 1,300 messages, along with disturbing photographs of women in suggestive poses.

Staley even visited Epstein during his jail sentence and crashed out at the perv’s Virgin Islands home on multiple occasions.

RadarOnline.com previously reported, JPMorgan bank execs allegedly knew about Epstein’s interest in underage girls — and callously joked about seeing him hanging out with a then 16-year-old pop tart Miley Cyrus.

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That claim was made in the lawsuit filed by the U.S. Virgin Islands (USVI) accusing Staley and Mary Erdoes, the head of its asset and wealth management division, of accommodating Epstein and even exchanging internal emails about his creepy behavior.

“In 2008, for example, Mary Erdoes received an email asking her whether Epstein was at an event ‘with Miley Cyrus,’” the lawsuit states. “Mary Erdoes admitted in her deposition that JP Morgan was aware by 2006 that Epstein was accused of paying cash to have underage girls and young women brought to his home.”

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JPMorgan filed a claim against Staley, blaming him for the Epstein debacle. He left the bank in 2013 and later resigned as Barclay’s CEO in 2015 after a preliminary investigation into his relationship with Epstein was exposed.

As RadarOnline.com previously reported, Epstein was suspiciously found hanging in his New York jail cell in August 2019, while awaiting a sex trafficking trial for allegedly providing a bevy of young girls to powerful politicians and businessmen – rumored to include Prince Andrew. The royal has denied all allegations of wrongdoing.

Madoff died of natural causes at the Federal Medical Center in Butner, North Carolina where he was serving 150 years for committing the largest fraud in Wall Street History. He was 82.

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