It has been just revealed that the banking giant JPMorgan Chase is hiding vital emails. Check out the latest reports about this below.
JPMorgan Chase is hiding important emails
According to newly released court documents, JPMorgan Chase is being accused by a former high-ranking banker, James Staley, of concealing a series of shocking emails related to the financial institution’s association with Jeffrey Epstein.
Staley’s legal representative, Stephen L. Wohlgemuth, has requested a federal judge to mandate JPMorgan to surrender internal emails that supposedly demonstrate the bank’s awareness of Epstein’s criminal conduct.
RadarOnline reports that Wohlgemuth claims JPMorgan’s legal team already has some of the pertinent emails in their possession.
“This is likely the tip of the iceberg, as it appears that even more information available to the bank’s general counsel is being withheld…
JPMorgan has placed the knowledge and conduct of its general counsel (and his staff) directly at issue in this case.
These circumstances lead to a straightforward at-issue waiver, as Mr. Staley must have the opportunity to probe all information that the general counsel (and his staff) knew when making Epstein-retention decisions.”
A lawsuit has been filed by JPMorgan against its former employee, Stanley, who headed the bank’s asset management and investment banking divisions for nine and five years, respectively.
The bank claims that Stanley’s purported association with Epstein has led to all legal repercussions related to the bank’s dealings with the disgraced financier.
JPMorgan seeks to recover eight years of remuneration given to Stanley during his tenure and hold him accountable for damages in two court cases, one of which was recently resolved for $290 million.
JPMorgan in the news
JPMorgan Chase has been fined $4 million by the U.S. Securities and Exchange Commission for the deletion of approximately 47 million emails.
These emails included business documents that were being sought by subpoenas in at least twelve regulatory investigations.
Check out our previous article in order to learn more details about this.
