Search Results for: JPMorgan

By Pam Martens and Russ Martens: July 26, 2023 ~ The Attorney General of the U.S. Virgin Islands, armed with highly effective legal talent from the law firm, MotleyRice – which stakes its reputation on its “boldness” – has filed new documents in its federal lawsuit against the largest bank in the United States, JPMorgan Chase. The new documents are, indeed, breathtakingly bold. The U.S. Virgin Islands’ attorneys have clarified to the court that they plan to show in a trial scheduled for October that JPMorgan Chase not only facilitated the sex trafficking of underage girls by Jeffrey Epstein but that the bank “actively participated in Epstein’s sex-trafficking venture from 2006 until 2019.” That is a very explosive assertion. For starters, it throws up a giant red flare as to why the American public has heard nothing from the criminal division of the U.S. Department of Justice about a criminal case … Continue reading →

By Pam Martens and Russ Martens: July 20, 2023 ~ The data in the chart above comes directly from what the biggest bank in the United States, JPMorgan Chase, reported on its 10-Q filing with the Securities and Exchange Commission (SEC) for the quarter ending March 31, 2023. Despite all those mainstream media headlines and news stories about the biggest banks in the U.S. being the deposit beneficiaries of the banking panic earlier this year, the cold, hard facts on the ground are the following: at the end of the first quarter of this year, JPMorgan Chase had seen deposit outflows in four out of the past five quarters. Mainstream media conveniently forgot to mention that. The only quarter in which JPMorgan Chase saw an inflow of deposits was the first quarter of this year, when three banks blew up: Silvergate Bank, Silicon Valley Bank and Signature Bank. That increase was … Continue reading →

By Pam Martens and Russ Martens: July 17, 2023 ~ In August 2007, Slate writer Emily Yoffe exploded a powder keg of parental anger when she shared her experience shopping with her 11-year-old daughter for back-to-school clothing in a store called Limited Too. The store, part of a large retail chain, marketed itself as an apparel haven for Tweens – girls ages 7 to 14. What Yoffe found inside the store was deeply disturbing: “a line of padded, underwire push-up bras for girls with nothing of their own to pad or push up…scanty panties…pairs with rhinestone hearts or printed with cheeky sayings such as ‘Buy It Now! Tell Dad Later!’ ” Limited Too is no longer in business but we did a check at the Internet Archives’ Wayback Machine to get a first-hand look at what Limited Too was peddling on its website in those early years. We found really sick stuff … Continue reading →

By Pam Martens and Russ Martens: July 14, 2023 ~ Unless you have been living off the grid for the past month, chances are you have seen a barrage of headlines blaring that the largest bank in the United States, JPMorgan Chase, agreed to settle a class action lawsuit for $290 million that was filed by sexual assault victims of Jeffrey Epstein, some when they were as young as 14 years old. The bank’s involvement stemmed from it providing the hard cash to Epstein from his accounts at the bank to pay off his victims and accomplices (in violation of money laundering rules) while he reciprocated by referring clients and profitable deals to the bank. It now turns out that the case is not actually “settled.” JPMorgan Chase and its 1,000-attorney law firm that is representing it in the matter, WilmerHale, have quietly filed a petition to appeal the decision rendered … Continue reading →

By Pam Martens and Russ Martens: July 10, 2023 ~ For months now, the largest federally-insured bank in the United States, JPMorgan Chase, represented by WilmerHale, a law firm with more than 1,000 attorneys, has been attempting to bamboozle the American people with the narrative that it engaged in no wrongdoing when it provided millions of dollars in cold, hard cash to child sex-trafficker Jeffrey Epstein for more than a decade  – without following the legal mandate of reporting this suspicious account activity to law enforcement. Internal emails produced in discovery in two lawsuits against the bank in federal court in Manhattan show that the bank was well aware that Epstein was a known sexual predator of children as it doled out all of this cash – at times reaching $40,000 to $80,000 per month. The legal narrative that the WilmerHale attorneys crafted for the public and the media is this: … Continue reading →

By Pam Martens and Russ Martens: June 29, 2023 ~ On Sunday, James S. Crown died in an unusual single-car accident, reportedly on a motorsport racetrack at a “member-owned country club” in Aspen, Colorado. The Pitkin County Coroner’s Office said in a statement that “The official cause of death is pending autopsy, although multiple blunt force trauma is evident.” The Sheriff’s Office indicated that the earliest new information would be made available to the public is next week. In August of last year, Wall Street On Parade made a referral to the U.S. Department of Justice involving James S. Crown, who was a long-term member of the Board of Directors of JPMorgan Chase and two predecessor banks, Bank One Corporation (previously Banc One) and First Chicago Corporation. Following mergers between the banks, Crown seamlessly went from First Chicago (1991 to 1996) to Bank One (1996–2004) to JPMorgan Chase (2004 to the … Continue reading →

By Pam Martens and Russ Martens: June 26, 2023 ~ There are three shocking takeaways from the class action settlement documents that were filed in the U.S. District Court for the Southern District of New York last week in the Jeffrey Epstein victims’ case against Wall Street megabank, JPMorgan Chase. (See settlement documents linked at the end of this article.) First, the attorneys for the unnamed victims are requesting $87 million in legal fees from the $290 million settlement amount, plus another $2.5 million in expenses. The victims, on the other hand, are guaranteed no minimum monetary payment but must file a release form before they learn if they will get a dime. This language appears in the settlement documents: “All Class Members shall be bound by all determinations and judgments in the Litigation concerning the Settlement (including, but not limited to, the releases provided for therein) whether favorable or unfavorable … Continue reading →

By Pam Martens and Russ Martens: June 22, 2023 ~ According to unsealed documents released this week by the U.S. Virgin Islands in its federal lawsuit against JPMorgan Chase over claims it facilitated Jeffrey Epstein’s sex trafficking of underage girls for more than a decade, the largest bank in the United States has a lot of explaining to do to the American people – and potentially to the criminal division of the U.S. Justice Department. After Jeffrey Epstein was arrested by the U.S. Department of Justice on July 6, 2019 on federal sex trafficking charges, JPMorgan Chase – which had been Epstein’s banker from 1998 to 2013 – apparently decided to get a quick look at how much legal liability and reputational damage it might have if its labyrinthine client relationship and intimate and undisclosed business relationship with Epstein came to light. The “top of the house” at JPMorgan Chase ordered … Continue reading →

By Pam Martens and Russ Martens: June 20, 2023 ~ The tenure of Jamie Dimon as Chairman and CEO of JPMorgan Chase, the largest federally-insured bank in the United States and the largest trading casino on Wall Street, has copiously revealed the following: the bank is more than willing to look the other way at crime if it means an increase in assets, profits or business referrals. Each of those three ingredients were present in the bank’s decades long involvement with Bernie Madoff, with its Chinese Princeling scandal and in the unfolding details of its intimate relationship with child sex trafficker Jeffrey Epstein. This reality may be difficult for the New York business press to acknowledge – since it has mostly covered Jamie Dimon as the grand statesman of Wall Street – but this is the hard reality nonetheless. Yesterday, the Wall Street Journal’s Khadeeja Safdar and David Benoit revealed the … Continue reading →

By Pam Martens and Russ Martens: June 19, 2023 ~ At a March 13 court hearing this year, prominent attorney, David Boies, argued in open court that the largest federally-insured bank in the United States, JPMorgan Chase – which has more than 5,000 Chase bank branches holding mom and pop savings from coast to coast – had used a private jet owned by the bank’s hedge fund, Highbridge Capital, to transport girls for Epstein’s sex trafficking operation. A January 13, 2023 amended complaint filed by Boies’ law firm, elaborated on the allegation as follows: “As another example of JP Morgan and [Jes] Staley’s benefit from assisting Epstein, a highly profitable deal for JP Morgan was the Highbridge acquisition. “In 2004, when Epstein’s sex trafficking and abuse operation was running at full speed, Epstein served up another big financial payday for JP Morgan. “Epstein was close friends with Glenn Dubin, the billionaire … Continue reading →