Ex-JPMorgan Executive Staley Admits Sharing Confidential Bank Data with Epstein
Synopsis
Former JPMorgan executive Jes Staley told US lawmakers he repeatedly shared confidential and market-sensitive information with Jeffrey Epstein, including Federal Reserve communications, pending deals and his own compensation, while also telling Epstein the bank had classified him as a high-risk client.
Former JPMorgan Chase executive Jes Staley told US lawmakers he repeatedly shared confidential and market-sensitive information about the bank with Jeffrey Epstein, including details of Federal Reserve communications, private capital flows, his compensation and pending deals.
Staley made the admissions during a voluntary, closed-door interview with the US House Committee on Oversight and Government Reform on July 24.
The transcript, released on Wednesday, provides new details about his long-standing relationship with Epstein as lawmakers investigate the convicted sex offender’s connections to prominent figures in business, politics and finance.
Staley’s Confidential Disclosures to Epstein
According to the transcript, Staley told Epstein about JPMorgan’s communications with the Federal Reserve during the 2008 financial crisis and disclosed that the bank had received $44 billion in private inflows over a two-week period.
He also discussed his compensation, client relationships and developments surrounding his eventual move to Barclays.
Staley defended the disclosures, saying he believed he had authority to share information when he considered it appropriate. He maintained that while he had a close professional relationship with Epstein, he was unaware of his crimes.
Former Executive’s Role in Epstein’s Estate
Staley spent more than three decades at JPMorgan, eventually running its private banking and asset-management businesses. Epstein was a client of the bank during Staley’s tenure.
Staley also testified that he informed Epstein about JPMorgan’s concerns regarding his large cash withdrawals and told him the bank had classified him as a high-risk client.
Separately, Staley acknowledged that he had been named to a role connected with Epstein’s estate years after Epstein’s 2008 conviction. He said he signed documents relating to an Epstein trust in 2014 and an amendment in 2015 but ultimately declined to serve because he did not want to be associated with the estate. He said he received no compensation.
Staley later became CEO of Barclays in 2015 and resigned in 2021. His relationship with Epstein has previously drawn scrutiny, including litigation involving JPMorgan.
JPMorgan declined to comment while Staley’s lawyers did not immediately respond to requests for comment. The disclosures form part of a wider congressional investigation into Epstein’s relationships with influential figures.
The Oversight Committee has also interviewed former President Bill Clinton, Commerce Secretary Howard Lutnick, Microsoft co-founder Bill Gates and Goldman Sachs senior counsel Kathy Ruemmler.
Source: Reuters
Vishal is an experienced Editor at Inspirepreneur Magazine with key interests in artificial intelligence, eCommerce, entrepreneurship, lifestyle and startup sector. Prior to joining Inspirepreneur, he was a Content Writer cum Correspondent at Siliconindia Magazine, where he worked on Company Profiles, Cover Stories, Executive Profiles, Feature Articles and Thought Leadership content.
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