JP Morgan Chase (JPMC) is suing one of its own former executives over ties to paedophile Jeffrey Epstein. Jes Staley, also former chief executive at Barclays bank, is being accused of failing to disclose his ties to Epstein – allegations which Staley has denied – while JP Morgan itself is facing accusations of helping the late sex trafficker.

JPMC is also alleging that Mr Staley has been accused of sexual assault.

The bank itself, meanwhile, is facing two lawsuits – one from the US Virgin Islands, and another from an unnamed woman, both alleging that it aided Epstein’s sex trafficking by allowing him to remain as one of its clients.

The Wall Street giant is seeking to make Mr Staley liable for any penalties it might face if it is found liable in the two lawsuits. It said Mr Staley should cover some or all damages if it were found liable, and pay punitive damages for his “intentional and outrageous conduct” in concealing information about Epstein and putting his own and Epstein’s interests above the bank’s.

The lawsuits allege that Mr Staley “personally observed” Epstein abusing trafficked women and “spent time with young girls” he met through the disgraced financier, JPMC said in a Manhattan federal court filing on Wednesday.

The firm claimed: “Staley persisted for years – from at least 2006 until his departure from JPMC in 2013 – in protecting Epstein in the face of attempts by JPMC to end the company’s relationship with Epstein, omitted material information, made misrepresentations in the process, and continued to do so.”

It added: “As a result of Staley’s faithless service, JPMC is entitled to recover all compensation paid to Staley during the time period of his disloyalty.”

Mr Staley, 66, performed various roles at JPMC from 1979 to 2013, including working as chief executive of the bank’s asset management operation from 2001. He later stepped down as the chief executive of UK bank Barclays in November 2021 following an investigation into his ties to Epstein.

Last month, JPMC alleged in court documents filed in New York that Mr Staley had inappropriate personal conversations with Epstein using his work email – although claimed the emails failed to show that minors were victimised or that “force, fraud or coercion” were used against women.

JPMC argued that Mr Staley’s use of work email for inappropriate exchanges with Epstein did not bring the actions “into the ambit of his employment”. The Wall Street bank also wants Mr Staley to repay all compensation from 2006 to 2013 – an amount that could total tens of millions of dollars.

At the time Mr Staley said he was “shell-shocked, angry and upset” at the findings, adding that he would contest them. While he has acknowledged having been friendly with Epstein, he also expressed regret for their relationship and denied knowing about the financier’s crimes.

Mr Staley’s lawyer told Express.co.uk they would not be commenting.

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