Deutsche Bank $75 million Settlement With Epstein Accusers

[financial88surfer]

www.marketscreener.com/quote/stock/DEUTSCHE-BANK-AG-56358396/news/US-judge-won-t-yet-approve-Deutsche-Bank-75-million-settlement-with-Epstein-accusers-44019228/


US judge won't yet approve Deutsche Bank $75 million settlement with Epstein accusers

06/02/2023 | 11:52am BST


FILE PHOTO: Jeffrey Epstein appears in a photo taken for the NY Division of Criminal Justice Services' sex offender registry

NEW YORK (Reuters) -A U.S. judge on Thursday stopped short of approving Deutsche Bank AG's $75 million settlement with women who said that Jeffrey Epstein abused them, and that the German bank facilitated the late financier's sex trafficking.

At a hearing in Manhattan federal court to consider preliminary approval of the settlement, U.S. District Judge Jed Rakoff said he needed more specifics about who qualified as members of the proposed class of Epstein victims.



Rakoff said people without legal training might not be able to figure out whether they qualified, and that lawyers were required to make it easy for them to understand whether they did.



"If I had consensual sex with Jeffrey Epstein when I was a minor, am I covered?" Rakoff asked rhetorically. "I'm disappointed in the notice, I'm disappointed in the proposed order, and we will need to get them revised promptly."



The judge directed lawyers for Deutsche Bank and Epstein's accusers to submit a revised settlement by June 12, and said he would be inclined to grant approval with appropriate changes.



David Boies, a lawyer for Epstein's accusers, told reporters after the hearing he agreed that the settlement needed to be clearer. A Deutsche Bank spokesperson declined to comment.



Epstein, who pleaded guilty in 2008 to a Florida prostitution charge and registered as a sex offender, had been a Deutsche Bank client from 2013 to 2018.



He died in August 2019 at age 66 in a Manhattan jail while awaiting trial for sex trafficking, in what New York City's medical examiner called a suicide.



Filed in November, the lawsuit is led by a woman, known as Jane Doe 1, who said Epstein sexually abused her from 2003 to 2018. She accused Deutsche Bank of missing red flags in Epstein's accounts that he was engaged in wrongdoing.



At Thursday's hearing, Rakoff also suggested the proposed fees for the plaintiffs' lawyers of up to 30% of the settlement amount may be too high.



The lawyers are also representing Epstein's accusers in a separate lawsuit against JPMorgan Chase & Co, where Epstein was a client from 1998 until 2013 when he was terminated.



JPMorgan has denied liability, and says it would have dismissed Epstein sooner if it knew about his alleged sex trafficking.



(Reporting by Luc Cohen in New York; Editing by Daniel Wallis)



By Luc Cohen and Jonathan Stempel





© Reuters 2023

[anenro]

Some Women tend to gravitate towards rich men. With one intent in mind. To get rich.

[financial88surfer]

Women are women, teenagers are teenagers and children are children. You are clearly neither very familiar with the teenagers and children sex network Epstein and Co. controlled nor with his intelligence background.

As for women gravitating towards rich men, the same can be said about certain men.

[financial88surfer]

dnyuz.com/2023/04/26/former-jp-morgan-exec-says-bank-is-using-him-as-a-pr-shield-in-epstein-case/

Former JP Morgan exec says bank is using him as a ‘PR shield’ in Epstein case
April 26, 2023in News

A former JP Morgan Chase Bank executive accused of having a “profound friendship” with Jeffrey Epstein has asked a federal judge to dismiss the bank’s lawsuit against him over his ties with the convicted sex offender.

The bank sued Jes Staley in March saying he should be held liable for any financial penalties it faces from lawsuits alleging the bank facilitated Epstein’s sex-trafficking enterprise.

The suits — which were brought by U.S. Virgin Islands and a woman identified as “Jane Doe 1” — claim that the financial institution turned a “blind eye” toward Epstein’s conduct, adding that the bank didn’t comply with federal laws for years while providing services to him and benefiting from Epstein’s business.

It is alleged that human trafficking “was the principal business of the accounts Epstein maintained at JP Morgan,” according to the U.S. Virgin Islands complaint.

The two suits are seeking money damages.

In court filings, Staley said the Wall Street giant is using him as a “public relations shield” in its legal battle over working with Epstein and attempting to “deflect blame” from its failures.

Staley, according to court documents, said he didn’t have any decision-making authority over Epstein’s accounts, adding that the bank has failed to state “viable” claims against him.

“Whether or not JPMorgan is liable to Doe and the USVI remains to be seen. What is certain is that the bank cannot treat Mr. Staley as its public relations shield by asserting claims that lack any legal (or factual) basis,” court documents state.

Staley called on the court to dismiss the suit because the bank “waited over 10 years to file these claims” and it falls outside the statute of limitations.

“After all, numerous JPMorgan employees knew that Mr. Staley had a relationship with Epstein, and the bank had access to Mr. Staley’s communications from his tenure that JPMorgan now alleges reflect that relationship,” court documents allege.

JP Morgan Chase Bank’s attorneys did not immediately respond to a request for comment.

Epstein was convicted in 2008 for procuring a child for prostitution, and died by suicide in 2019 at a Manhattan correctional center where he was being held on federal sex-trafficking charges.

Staley spent more than 30 years with JP Morgan Chase Bank and later went on to work at Barclays; Staley stepped down as Barclays CEO in 2021 after an investigation into his relationship with Epstein.

In February, unredacted parts of the lawsuit brought by the U.S. Virgin Islands, where Epstein had a home, showed that Staley and Epstein exchanged an estimated 1,200 emails between 2008 and 2012.

“These communications show a close personal relationship and ‘profound’ friendship between the two men and even suggest that Staley may have been involved in Epstein’s sex-trafficking operation,” the U.S. Virgin Islands said in court documents in February.

In one instance, Staley emailed Epstein in July 2010, “Maybe they’re tracking u? That was fun. Say hi to Snow White.”

Epstein responded, what “character would you like next?,” which Staley followed up with, “Beauty and the Beast.” Epstein then replied, “well one side is available.”

When JP Morgan Chase Bank filed its suit against Staley in March, the bank said he was the “powerful financial executive” who sexually assaulted Jane Doe 1. The unnamed woman alleged in her suit against the bank that “one of Epstein’s friends used aggressive force in his sexual assault of her and informed Jane Doe 1 that he had Epstein’s permission to do what he wanted to her,” but hadn’t named the executive “out of fear.”

Staley called the accusations “baseless” in court filings this week.

[financial88surfer]

dnyuz.com/2023/04/26/former-jp-morgan-exec-says-bank-is-using-him-as-a-pr-shield-in-epstein-case/

[anenro]

Jun 7, 2023 15:39:21 GMT 4 financial88surfer said:

Women are women, teenagers are teenagers and children are children. You are clearly neither very familiar with the teenagers and children sex network Epstein and Co. controlled nor with his intelligence background.

As for women gravitating towards rich men, the same can be said about certain men.

Statistics proves that your comments are incorrect.
The percentage of women seeking to become wealthy by hitching their lives to wealthy men, as trophy wives, surely outnumbers the percentage of men hitching their lives to wealthy women.

And as far as children exploitation, well, that is a worldwide epidemic. So, try to stay focus on the topic posted on this blog and do not mix apples with oranges.

By the way, welcome to this blog.

[anenro]

Jun 7, 2023 15:43:30 GMT 4 financial88surfer said:

dnyuz.com/2023/04/26/former-jp-morgan-exec-says-bank-is-using-him-as-a-pr-shield-in-epstein-case/

Baseless accusations.

[financial88surfer]

Dear Anero,

I don't live by statics but by quality. I am not mixing apples with oranges but I'm sorting out the rotten apples and rotten oranges in each basket.

BTW, both apples and oranges provide a wonderful mix during summer time with lots of vitamins. Enjoy slowly upon waking up and stay focus on quality women.

[anenro]

Jun 7, 2023 21:46:35 GMT 4 financial88surfer said:

Dear Anero,

I don't live by statics but by quality. I am not mixing apples with oranges but I'm sorting out the rotten apples and rotten oranges in each basket.

BTW, both apples and oranges provide a wonderful mix during summer time with lots of vitamins. Enjoy slowly upon waking up and stay focus on quality women.

As you will eventually learn, most members of this blog are smart enough to simply cease trying to enlighten others, if the other can't understand. But, since we all are entitled to our own opinion, I respectfully move on.

Enjoy your evening. I will do the same.

[financial88surfer]

Oh dear,

No time to enlighten others who must make the effort themselves. Don't worry and move on...Just stopped by to make sure RR and Tony are doing fine. As I can see, all is well as usual.

[financial88surfer]

Just as a follow-up of the above.

www.bbc.com/news/world-us-canada-65879833

JP Morgan headquarters in New York
IMAGE SOURCE,GETTY IMAGES
By Sam Cabral
BBC News, Washington
JP Morgan has agreed to pay roughly $290m (£232m) to settle a lawsuit brought on behalf of alleged victims of convicted sex offender Jeffrey Epstein.

Attorneys for the bank said it was "in the best interests of all parties, especially the survivors who were the victims of Epstein's terrible abuse".

The lawsuit had alleged the largest US bank ignored warning signs about its client during a 15-year relationship.

The agreement is subject to court approval.

JPMorgan Chase will not admit liability in the case, but upon the settlement's approval the bank will put out a statement regretting its association with Epstein, David Boies, one of the victims' attorneys, told CNN.

"We all now understand that Epstein's behaviour was monstrous," lawyers for the bank said in a statement on Monday.

"Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes."

The settlement follows weeks of embarrassing revelations about the extent of JP Morgan's relationship with the late financier.

Late last month, long-time chief executive Jamie Dimon provided a formal statement under oath for the case, in what turned out to be a day-long deposition from the bank's headquarters in New York.

Lawyers representing the unnamed accuser who filed the suit - identified only as Jane Doe 1 - asked a federal judge on Friday to allow them to take new testimony from Mr Dimon.

They also asked to reopen depositions for three other key witnesses in the case.

Another lawsuit filed against the bank late last year in federal court is still pending. That case was brought on behalf of the government of the US Virgin Islands, where Epstein owned a private island with a mansion.

The financier kept hundreds of millions of dollars in more than 50 accounts at JP Morgan between 1998 and 2013, five years after he pleaded guilty to soliciting a minor for prostitution.

He was found dead at the age of 66 in a prison cell in 2019. New York City's medical examiner ruled the death a suicide.

The Jane Doe 1 lawsuit said that JP Morgan "knowingly facilitated, sustained and concealed" the frequent cash withdrawals Epstein made to pay the young women he trafficked, while profiting from the deals and clients that the financier brought in.

The bank, which earlier failed to dismiss the dual suits, has countered that any civil liability should rest with Jes Staley, a former top executive who befriended Epstein.

Mr Staley has said his former employer is trying to "deflect blame" for its own failures and sought to dismiss the claims, but the complaint against him remains active.

Last month, Deutsche Bank, where Epstein was a client after he left JP Morgan in 2013, settled for $75m with Epstein accusers.

To date, the Epstein estate has paid out more than $150m to more than 100 of his victims.

[congregatio]

while I think there is still of lot of things unknown, I generaly have a problem to think that 16/17 year olds did not understand what they got into there, but may that as it was been, they were to young, by a year or two. The financial repercussions of doing business with questionable people should be reputational and only when it comes down to aiding and abetting in a criminal act should have financial and yes criminal repercussions. I am having a problem with a bank to police a client for his behaviour but that seems to be the flavor of the times and certainly banks have to adjust to that. will see what comes out of it.

[financial88surfer]

I see your point and I respect it. What I see missing though, is not so much the age per se since people are of age at different ages in different countries - and BTW some kids even kill other children or adults - but it is the recruiting process of some of those young people by some individuals - and some of those girls/boys were much younger for sure - and the poor financial background of some of those trapped. There is an ethical dimension of some western banks, BTW at the time of APF I was asked to deposit my signature in London which I didn't, hence my interest in following up with that specific one - that really bothers me when kids are involved. I am not into policing and jailing anyone especially since banks are operating under the veil of anonymity in so many ways, and moreover I uphold the principle of innocence and guarantee till proven guilty, BUT when some major case comes out like that of the individual above and others connected with him, then I think some compensation must be found.

We are all living in an imperfect world with people doing imperfect business and for imperfect reasons, except some truly rare examples. And while we have to bear much of this imperfection and even criminal activity for whatever purpose, yet our efforts should be the deepest in tracking those who do harm children. True one or two years do not make much difference in most cases, but there is a society problem nowadays in that families which make up society are not really educating their kids at best and many fall unwilling into the wrong hands. The discussion could be very long but I am sure you got the gist.

[Sapphire Capital]

Due to age and location I was brought up with a certain set of rules and sure they were enforced but not in an agressive way, seems my generation thinks that simply telling the rules will do the trick, never has since kids always test the borderlines, this has created a feeling in the kids that they are able to do anything and if they fail claim damages meaning society owes them, which life teaches there is nothing for free

[alanbond]

anonymity in banking? no such thing anymore beside special structures, private things even get pulled up, I am sick and tired of banks getting into my private life. in regards of kids , its not knew and they should be protected but the older kids should have an understanding, sure money tempts but those with a good grounding will see beyond it, the question is why so few have that grounding, but I am in my 70's so probably a fossil

[financial88surfer]

Fossils are priceless because they tell of a past only a very few remember: Ars Memoria!

In the past someone highly criticized me for defending the principle of private life. I'm glad there are others who are still caring about private life. Not being rich I don't defend anything in particular, just the principle. As for so few young people having a good grounding, there may be exceptions, but mostly families are responsible for transmitting good safe principles, but many have gone astray coming up with too many alternative and dangerous family concepts which are rather far from anything sound and safe.

[financial88surfer]

www.foxbusiness.com/features/jeffrey-epstein-was-asked-help-craft-virgin-islands-sex-offender-law-first-lady

Jeffrey Epstein was asked to help craft Virgin Islands sex offender law by first lady
The U.S. Virgin Islands is suing JPMorgan Chase for allegedly facilitating his sex crimes
Facebook

By Rebecca Rosenberg FOXBusiness

JPMorgan challenged by David Bahnsen over account cancellations: 'They are petrified'
The Bahnsen Group founder and managing partner David Bahnsen discusses whether J.P. Morgan is discriminating against accounts based on religion or politics on 'The Big Money Show.'

Convicted pedophile Jeffrey Epstein allegedly helped the former U.S. Virgin Islands first lady draft language for a sex offender law, according to a bombshell new federal filing from JPMorgan Chase.

Three years after Epstein pleaded guilty to soliciting an underage prostitute in Florida, Cecile de Johngh, the wife of then-Virgin Islands Gov. John de Jongh Jr., allegedly asked Epstein if he approved of specific changes to the sex offender monitoring laws.

"This is the suggested language; will it work for you?" Cecile de Jongh allegedly wrote in May 2011.

In Wednesday's scathing filing, JPMorgan Chase attempted to turn the tables on the Caribbean islands' government.

JEFFREY EPSTEIN-RELATED LAWSUIT REVEALS EXPLOSIVE NEW DETAILS: REPORT

Jeffrey Epstein mugshot next to his Caribbean compound.
JPMorgan Chase alleges in new court filing that the Virgin Islands facilitated Jeffrey Epstein's abuse of women and girls. His compound, right, on Little St. James Island, was his primary residence. (Booking photo/Gianfranco Gaglione both via / AP Images)

The Virgin Islands sued the world’s largest bank in December in the Southern District of New York, alleging it knowingly facilitated Epstein’s exploitation of women and minors.

The lawsuit argues that JPMorgan Chase "turned a blind eye" to human trafficking for more than a decade because of the business Epstein brought and promised to bring to the bank.

But the financial behemoth accused the Virgin Islands' highest ranking officials of maintaining a "quid pro quo relationship" with the notorious child predator.

"He gave them money, advice, influence and favors," the filing says. "In exchange, they shielded and even rewarded him… looking the other way when he walked through USVI airports accompanied by girls and young women."

An aerial view of Epstein's island
Little St. James Island, one of the properties of late financier Jeffrey Epstein, in an aerial view July 21, 2019. (Marco Bello via / Reuters Photos)

The briefing points specifically to the exchange with de Jongh when she allegedly solicited Epstein's input on updating the government's sex offender laws to bring them in compliance with federal standards.

After Epstein was released from jail in 2009, he changed his primary address to the Virgin Islands and registered as a sex offender there as required by law, putting him under the local government's jurisdiction.

He famously entertained celebrities and abused women and girls on his compound on Little St. James island.

JEFFREY EPSTEIN ALLEGEDLY THREATENED BILL GATES OVER REPORTED AFFAIR WITH RUSSIAN CARD PLAYER: REPORT

In response to de Jongh's request for input on the sex offender bill, Epstein responded, "We should add out of country for more than 7 days, otherwise I could not go for a day trip to Tortola at the last minute."

He made additional suggestions to try to limit information available to the press about his whereabouts. Although Epstein monitored the bill closely, he was disappointed in the final form.

Jamie Dimon gestures with hands during an interview, with no tie and collar open

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview in Miami, Florida, March 6, 2023. (Marco Bello/Bloomberg via Getty Images / Getty Images)

De Jongh apologized for "how things panned out" but promised to find a way to "get around these obstacles," the filing says.

She allegedly came up with a plan to circumvent the legislation and give Epstein freedom of movement in and out of the country, while young women and girls accompanied him, according to the briefing.

De Jongh even worked for him, earning a salary managing his local companies from 2007 to 2015. Epstein paid her children's tuition – including when her husband was the sitting governor, the filing says.

"For two decades, and for long after JPC [JPMorgan Chase] exited Epstein as a client, the entity that most directly failed to protect public safety and most actively facilitated and benefited from Epstein's continued criminal activity was the plaintiff in this case – the USVI [United States Virgin Islands] government itself," the filing charges.

Venetia Velazquez, a spokesperson for the Virgin Islands attorney general's office, said that JPMorgan Chase had a responsibility to report evidence of Epstein's misconduct and failed to do so.

"JPMorgan Chase has cherry-picked and mischaracterized Epstein’s interactions with U.S. Virgin Islands officials and residents in an attempt to distract and shift blame away from its role in facilitating Jeffrey Epstein’s heinous crimes," Velazquez wrote in a statement.

The bank reached a separate $290 million settlement this week to resolve a class action lawsuit filed by Epstein victims to prevent potentially damaging information about its relationship with the sex offender from coming out at trial.

The New York City medical examiner's office ruled that Epstein died of suicide in 2019 in his jail cell while awaiting trial on sex trafficking charges.