Deutsche Bank Fined $150 Million for Enabling Jeffrey Epstein; Where’s the Fine Against JPMorgan Chase?
July 9th, 2020Via: Wall Street on Parade:
During this 14-year span of incompetence and cronyism on the part of the U.S. Justice Department, no federal criminal charges have been brought against any financial institution for looking the other way as Epstein withdrew vast sums of cash to pay off his underage victims and their recruiters.
JPMorgan Chase held a bank account for Epstein for 15 years until 2013. That’s five additional years after it was publicly known in 2008 that Epstein had pleaded guilty to soliciting sex with a minor, became a registered sex offender, and had spent time in jail. (Banks are required under law to “know your customer (KYC),” prevent illicit money dealings, and report suspicions of money laundering to FinCen, a unit of the U.S. Treasury.)
The Justice Department has not brought charges against JPMorgan Chase over its involvement with Epstein despite the bank’s past sordid history in facilitating the laundering of money by Ponzi-schemer Bernie Madoff for decades. JPMorgan Chase pleaded guilty to two felony counts in that matter in 2014.
