Former JPMorgan executive, ex-Barclays CEO Staley to be deposed next week

Former JPMorgan Chase & Co. (JPM.N) executive Jes Staley is expected to be deposed next Thursday and Friday about his relationship with Jeffrey Epstein and what he knew about his former client's activities related to sex-trafficking.

Lawyers for the bank said during a hearing on Thursday they would depose Staley, who also served as Barclays Plc's (BARC.L) chief executive, on March 23 and 24.

JPMorgan has accused Staley, its former head of private banking, of "intentional and outrageous conduct" in concealing information about Epstein, with whom he had been friends. The lawsuit seeks to force Staley to return eight years of compensation and reimburse JPMorgan for damages the company might incur in the other lawsuits.

 

Staley has acknowledged having been friendly with Epstein, but expressed regret for their relationship and denied knowing about the financier's alleged crimes. Staley's lawyer, Brendan Sullivan, did not immediately respond to a request for comment.

Epstein killed himself in a Manhattan jail cell in August 2019, one month after being charged with sex trafficking.

Judge Jed Rakoff set a new trial date of Oct. 23 from a previously scheduled Sept. 5, consolidating cases in which Epstein victim Jane Doe and the US Virgin Islands sued JPMorgan, and the countersuit by the bank against Staley.

 

Last week, Rakoff had ordered the bank to hand over more documents concerning its CEO Jamie Dimon. On Thursday, JPMorgan's lawyer Felicia Ellsworth said there was no evidence of a relationship between Dimon and Epstein.

A separate trial involving an Epstein victim suing Deutsche Bank AG (DBKGn.DE) may also be rescheduled.