Elizabeth Warren is pressing JPMorgan Chase CEO Jamie Dimon to explain his bank's dealings with Jeffrey Epstein, specifically whether the financier influenced corporate lobbying efforts aimed at blocking a UK tax on banker bonuses.
The Senate Banking Committee's top Democrat sent the letter last week after newly released Justice Department documents raised fresh questions about Dimon's connections to the disgraced sex offender. Warren wrote that Congress and the public need to understand "the extent of any interactions the bank and you had with Epstein."
A 2009 email disclosed earlier this year shows Epstein asking former British Labour minister Peter Mandelson whether Dimon should lobby then-Chancellor Alistair Darling against the proposed bonus tax. Mandelson's reply suggested Dimon should "mildly threaten" the official. Dimon subsequently contacted Darling and emphasized JPMorgan's status as a major UK employer and bond purchaser, warning that the bank might cancel plans for a new London headquarters.
Dimon testified under oath in 2023 that he had never met Epstein and didn't know his name until the 2019 arrest. That account is now under scrutiny as JPMorgan itself faces scrutiny over how long it maintained Epstein as a client. The bank says it ended the relationship in 2013, years before the arrest and well after federal investigators had gathered evidence of wrongdoing.
Former JPMorgan executive Jes Staley, who later became Barclays chief executive, previously claimed he discussed Epstein with Dimon. JPMorgan's legal team called the allegation false and noted that a UK tribunal found Staley's testimony "evasive and unreliable." The two parties later reached a confidential settlement.
A JPMorgan spokesperson reiterated that Dimon was not involved in decisions about Epstein's account and had no contact with him. The bank characterized any connection as "a mistake" while defending its decision to maintain the client relationship for as long as it did.
Mandelson, who served as US ambassador, stepped down last September after his friendship with Epstein became public.
Author James Rodriguez: "Warren's letter signals that the Epstein file isn't closed for Wall Street's biggest names, and Dimon's previous assurances are looking increasingly fragile."
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