Two lawsuits have been filed against JPMorgan, alleging that the bank facilitated Jeffrey Epstein’s sex-trafficking operation. The plaintiffs in both lawsuits are seeking additional documents that they claim are being withheld, and they want CEO Jamie Dimon to be compelled to turn them over.
According to Bloomberg, both the US Virgin Islands and an Epstein victim are accusing the bank of refusing to turn over Dimon documents from 2014 to August 2019. Epstein was a JPMorgan client from 1998 to 2013, and both lawsuits allege that Dimon knowingly kept Epstein as a client after his sex abuse became publicly known.
The US Virgin Islands claims that the bank’s allegedly unlawful conduct occurred beyond 2013, and Jane Doe 1 alleges that JPMorgan has refused to turn over Dimon documents from before 2006. The bank argues that complying with the request would be an undue burden.
Lawsuits are not the first time that Jamie Dimon, the CEO of JPMorgan, has found himself in hot water. Dimon has also been a vocal critic of Bitcoin, the world’s most popular cryptocurrency. Despite Dimon’s negative views on Bitcoin, JPMorgan has recently taken steps to get involved in the cryptocurrency industry.
Jamie Dimon, the CEO of JPMorgan, has been a vocal critic of Bitcoin, referring to it as a “fraud” and “worse than tulip bulbs.” He compared the cryptocurrency to the infamous speculative bubble in 17th-century Holland that saw the price of tulip bulbs skyrocket before crashing.
Despite his negative views on Bitcoin, JPMorgan has created its own digital currency, JPM Coin, and has launched a blockchain-based platform called Quorum.
It remains to be seen whether these lawsuits will have any impact on Dimon’s reputation or JPMorgan’s involvement in the cryptocurrency industry. However, it is clear that the allegations against the bank are serious and will be closely scrutinized by the courts.
The history of Jamie Dimon’s criticism of Bitcoin is also noteworthy. While he has been an outspoken critic of the cryptocurrency, his company has still taken steps to get involved in the industry. It will be interesting to see how this plays out and what impact it may have on the cryptocurrency market as a whole.