Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., at the hearing of the Senate Banking, Housing, and Urban Affairs Committee in Washington, DC, US, on Thursday, Sept. 22, 2022.
Al Drago | Bloomberg | Getty Images
JPMorgan Chase CEO Jamie Dimon will be ousted in late May in two days over civil lawsuits accusing the banking giant of profiting from the sex trafficking of late money manager Jeffrey Epstein, a source told Eamon Javers of CNBC on Wednesday.
Dimon’s questioning under oath will take place in New York, on May 26 and 27, a Friday and Saturday, the source said.
A person with knowledge of Dimon’s deposition said, “Scheduling is fluid and subject to change.”
The government of the US Virgin Islands and one of Epstein’s accusers are suing JPMorgan in US District Court in Manhattan. The bank has denied any wrongdoing.
Epstein has been a JPMorgan customer for years. The bank only cut ties with him in 2013, five years after he pleaded guilty in Florida state court to soliciting sex from an underage girl.
“Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker,” said a lawyer for the Virgin Islands at a court hearing in March.
The bank said Dimon had no knowledge of Epstein related to the lawsuits.
In addition to lawyers for the Virgin Islands and Epstein’s accusers, lawyers for Jes Staley, JPMorgan’s former investment banking chief, will question Dimon.
JPMorgan maintains that Staley, not the bank, is legally responsible for any civil liability related to its dealings with Epstein.
On Wednesday, lawyers in the lawsuits are scheduled to depose William Langford, who previously served as a top JPMorgan executive responsible for anti-money laundering efforts, financial crimes compliance and regulatory management. .
The Virgin Islands lawsuit alleges that JPMorgan “facilitated and concealed wire and cash transactions that raised suspicions of — and were in fact part of — a criminal enterprise whose proceeds were for the sexual slavery of twelve- dozens of women and girls in and out of the Virgin Islands.”
“Human trafficking is the [principal] business accounts maintained by Epstein at JP Morgan,” the suit said.
Epstein killed himself in a Manhattan jail cell in 2019, a month after being arrested on federal child sex trafficking charges.
He used to be friends with two former presidents, Donald Trump and Bill Clinton, and Britain’s Prince Andrew, as well as other rich and powerful people.
Correction: A previous headline cited multiple sources for the timing of Jamie Dimon’s expected deposition when there was only one source. CNBC has since confirmed the timing with multiple sources.
