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JP Morgan And The Kings Ransom It Spent On Legal Fee's In The Epstein Case In The USVI · The Vault: The Epstein Files

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  Speaker 1: What's up everyone and welcome back to the Epstein Chronicles.
• 0:05
  Speaker 1: In a recent episode, we were talking about how much
• 0:08
  Speaker 1: money David Boies and his legal firm have brought in
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  Speaker 1: for their work when it comes to going after Jeffrey
• 0:15
  Speaker 1: Epstein and his assets. And we learned that the price
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  Speaker 1: of admission to play ball with a guy like David
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  Speaker 1: Boies is about $ 2, 100 an hour. Well now, we're learning
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  Speaker 1: that J.P. Morgan... has racked up more than $ 14 million
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  Speaker 1: in legal fees so far as they try and battle
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  Speaker 1: their way out from underneath these allegations. And what that
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  Speaker 1: signals to me is that they're in it for the
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  Speaker 1: long haul. They're not going to settle with the United
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  Speaker 1: States Virgin Islands, and they're going to do everything in
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  Speaker 1: their power to make sure that Jess Staley is on
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  Speaker 1: the hook for paying these bills. Now, are they going
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  Speaker 1: to be successful doing that? I don't know. But they
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  Speaker 1: certainly have a game plan here and they've been sticking
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  Speaker 1: to it ever since these allegations against them were unleashed
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  Speaker 1: by the United States Virgin Islands. So it's going to
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  Speaker 1: be very interesting to see what their strategy is going forward.
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  Speaker 1: But one thing I'm pretty sure of is that JP
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  Speaker 1: Morgan has zero desire to enter into a settlement with
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  Speaker 1: the United States Virgin Islands. They feel like the U.S.
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  Speaker 1: Virgin Islands is as complicit, if not more so, than
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  Speaker 1: them themselves. So they feel like they shouldn't have to
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  Speaker 1: pay one single cent to the U.S. Virgin Islands, especially
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  Speaker 1: after they just came out of the pocket to the
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  Speaker 1: tune of $ 290 million to the survivors. Now, if anyone's
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  Speaker 1: getting any money, I don't know how much more clear
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  Speaker 1: I have to be about this. It should be the survivors,
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  Speaker 1: nobody else. All these other clowns that are getting rich here,
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  Speaker 1: all these other clowns that have had their hand out
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  Speaker 1: the whole time, they could all go get stuffed. Today's
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  Speaker 1: article is from CNBC. Headline, JPMorgan legal fees and Jeffrey
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  Speaker 1: Epstein sex trafficking cases near 14 million, former executive reveals.
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  Speaker 1: This article was authored by Kevin Bruniger. JPMorgan Chase has
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  Speaker 1: racked up nearly $ 14 million in legal fees defending itself
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  Speaker 1: against two lawsuits alleging that it abetted the sex trafficking
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  Speaker 1: by its longtime customer Jeffrey Epstein, according to lawyers, for
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  Speaker 1: a former top executive who says he is being scapegoated
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  Speaker 1: by the huge bank. And that's been Jess Staley's line
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  Speaker 1: this whole run. Hey, look, I'm being scapegoated. It's all
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  Speaker 1: the bank's fault. I had nothing to do with any
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  Speaker 1: of this. Meanwhile, this dude's over dipping his nuts in
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  Speaker 1: Jeffrey Epstein's pool. But yeah, you guys aren't close. You
• 2:47
  Speaker 1: dudes aren't tight. All of those emails, just a figment
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  Speaker 1: of all of our imagination. That's basically what Jess Daly's
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  Speaker 1: trying to tell everybody. That it wasn't his fault that
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  Speaker 1: he was hanging out with Epstein. That somehow that was
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  Speaker 1: JP Morgan's fault as well. Look, everybody's culpable here. from
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  Speaker 1: Jess Staley to J.P. Morgan, all the way down to
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  Speaker 1: the U.S. Virgin Islands. Attorneys for the former J.P. Morgan executive,
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  Speaker 1: Jess Staley, revealed the fee total in a late filing
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  Speaker 1: on Wednesday in U.S. District Court in Manhattan. Staley's filing
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  Speaker 1: was later removed from public view on the court docket.
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  Speaker 1: On Thursday, his lawyers filed a new version of the
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  Speaker 1: document that redacted the reference to the bank's legal fees.
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  Speaker 1: So there it is. The issue was that they had
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  Speaker 1: the actual fee on the filing, and according to the court,
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  Speaker 1: that was not what they should have been doing. So
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  Speaker 1: the court prompted them to go back and refile their documents.
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  Speaker 1: So they had to go back, revise it, and refile it.
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  Speaker 1: But as you all know, once something's posted on the internet,
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  Speaker 1: forget it. There's no going back and fixing that. The
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  Speaker 1: filing challenges JP Morgan's use of three financial experts to
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  Speaker 1: support its legal claims that Staley, a former friend of Epstein,
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  Speaker 1: should be responsible for paying the bank hundreds of millions
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  Speaker 1: of dollars to cover costs related to the lawsuits. Staley's
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  Speaker 1: lawyers did not immediately reply for a request for comment. Yeah,
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  Speaker 1: that's not shocking. That's been their M.O. throughout this whole thing,
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  Speaker 1: and it's probably the best course of action for them.
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  Speaker 1: No need to talk to the media. No need to
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  Speaker 1: bring this story up more than it's already been brought up.
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  Speaker 1: And let's just keep it moving. And that's been the
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  Speaker 1: game plan for Jess Daly's lawyers since these allegations were
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  Speaker 1: brought to light. JP Morgan spokeswoman Patricia Wexler declined to
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  Speaker 1: comment on the bank's purported legal costs from the suit.
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  Speaker 1: But in a statement to CNBC, Wexler noted both plaintiffs
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  Speaker 1: have accused Jess of unspeakable acts that had nothing to
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  Speaker 1: do with his job or responsibilities at our firm. Indeed,
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  Speaker 1: Jane Doe herself has directly accused him of horrific sexual misconduct.
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  Speaker 1: If these allegations are true, he must be held accountable,
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  Speaker 1: said Wexler, using the pseudonym for the plaintiff in one
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  Speaker 1: of the suits. JP Morgan was sued last year by
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  Speaker 1: Doe in a would-be class action case on behalf of
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  Speaker 1: herself and other young women who were trafficked by the
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  Speaker 1: late money manager Epstein. Money manager? You mean pedophile? You
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  Speaker 1: mean rapist? You mean complete and utter piece of garbage?
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  Speaker 1: That's what you mean, right? The bank separately was sued
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  Speaker 1: by the government of the U.S. Virgin Islands, where Epstein
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  Speaker 1: had maintained a residence on a private island where he
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  Speaker 1: sexually abused women. And remember, down in the U.S. Virgin Islands,
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  Speaker 1: everybody knew, including people working at the airport, but the politicians,
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  Speaker 1: all of these elected officials, they had no idea. That's
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  Speaker 1: what they're telling you. Keep that in mind. Both suits
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  Speaker 1: claim that the bank facilitated and profited from Epstein's trafficking
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  Speaker 1: of women when he was a customer from 1998 through 2013.
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  Speaker 1: A lawyer for the Virgin Islands during a court hearing
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  Speaker 1: this month said that after Epstein killed himself, allegedly in 2019, J.P.
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  Speaker 1: Morgan notified the Treasury Department of more than $ 1 billion
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  Speaker 1: in transactions related to human trafficking by Epstein dating back
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  Speaker 1: 16 years. JP Morgan in July agreed to pay $ 290
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  Speaker 1: million to survivors of Epstein to settle the first lawsuit.
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  Speaker 1: And imagine being JP Morgan and waiting for this dude
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  Speaker 1: to die to report that other money. What an absolute joke.
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  Speaker 1: So everybody here should be clipped. Everybody should have to
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  Speaker 1: pay through their nose. And I don't want to hear
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  Speaker 1: that Jess Staley is the reason all of this happened. Oh, sure.
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  Speaker 1: He's a cog in the machine, but it doesn't start
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  Speaker 1: and stop with Jess Staley. But the bank, which denies
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  Speaker 1: any wrongdoing, is continuing to fight the suit by the
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  Speaker 1: Virgin Islands. The case is set to begin in trial
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  Speaker 1: in late October. And Judge Rakoff has been very, very,
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  Speaker 1: very adamant that this trial is going to kick off
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  Speaker 1: on time. He's not looking for any delays here. He's
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  Speaker 1: not looking for any BS. He wants this trial to
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  Speaker 1: get going. He wants it to kick off and he
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  Speaker 1: wants to get things moving. In March, JP Morgan sued Staley,
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  Speaker 1: its former chief of investment banking, alleging that he is
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  Speaker 1: legally responsible for the entire amount of any damages it
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  Speaker 1: incurs from both lawsuits. The bank is also seeking to
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  Speaker 1: claw back more than $ 80 million in compensation it paid
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  Speaker 1: to Staley over the years. Staley, 66, is opposing the
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  Speaker 1: bank's claim. He has also denied an allegation made by
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  Speaker 1: Doe that he sexually assaulted her. In their filing on Wednesday,
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  Speaker 1: Staley's lawyers wrote, The one constant in these related cases
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  Speaker 1: has been J.P. Morgan's attempt to paint the entirety of
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  Speaker 1: its problems with Jeffrey Epstein on its former executive, Jeff Staley.
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  Speaker 1: Consistent with this theme, the three experts whom the bank
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  Speaker 1: has retained to support its third-party claims against Mr. Staley
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  Speaker 1: are focused on a single question. How much should Mr.
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  Speaker 1: Staley have to pay, the filing said. One expert, the
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  Speaker 1: accountant Edith Wong, said J.P. Morgan's $ 290 million settlement was reasonable,
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  Speaker 1: the filing said. And Shelley Chapman, a retired bankruptcy judge, opines.
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  Speaker 1: that JP Morgan's $ 13. 8 million in legal fees in the
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  Speaker 1: Jane Doe and USVI cases was reasonable according to Staley's filing.
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  Speaker 1: Maybe reasonable for people like you. What about the rest
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  Speaker 1: of us? So this is the price of justice? Let
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  Speaker 1: me just go to the couch and get my $ 14
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  Speaker 1: million so I can pay my lawyer. The third expert,
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  Speaker 1: an accountant named Carlin Irwin, added up how much Staley
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  Speaker 1: earned at J.P. Morgan to assess how much might be
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  Speaker 1: clawed back by the bank if it wins its suit
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  Speaker 1: against Staley. Staley's lawyers wrote that none of these experts'
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  Speaker 1: opinions meets a standard for the admissibility of an expert
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  Speaker 1: opinion in federal court. J.P. Morgan is being represented by
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  Speaker 1: an attorney from the law firm WilmerHell, including partner Felicia Ellsworth.
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  Speaker 1: who in 2020 co-edited an updated legal guide on human
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  Speaker 1: trafficking for attorneys to represent victims and continue to make
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  Speaker 1: a difference. The firm's website includes a statement on modern
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  Speaker 1: slavery declaring we do not tolerate slavery, human trafficking, or
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  Speaker 1: abusive or unfair treatment in any part of our business
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  Speaker 1: or in any part of our supply chain. Meanwhile, they're
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  Speaker 1: here defending JP Morgan. Makes a lot of sense, considering
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  Speaker 1: what JP Morgan's alleged to have been involved in. But
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  Speaker 1: it's all about the mighty dollar, right? There's no honor
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  Speaker 1: when we're talking about millions and millions of dollars people
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  Speaker 1: will suspend their good sense people will suspend their morality
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  Speaker 1: nothing matters all that matters is collecting that bag all
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  Speaker 1: that matters is more money Epstein, a former friend of
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  Speaker 1: Donald Trump and Bill Clinton and George Mitchell and Bill Richardson,
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  Speaker 1: killed himself in a New York jail, allegedly at age
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  Speaker 1: 66 in August of 2019, a month after he was
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  Speaker 1: arrested on federal sex trafficking charges. Well, folks, the price
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  Speaker 1: of justice ain't cheap, is it? And if you don't
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  Speaker 1: have a bunch of dough, forget finding yourself one of
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  Speaker 1: these high profile attorneys. because you see the price tag.
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  Speaker 1: And when I talk about a two-tier justice system, this
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  Speaker 1: is exactly what I'm talking about. People like this, well,
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  Speaker 1: they're playing in a whole different stratosphere than the rest
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  Speaker 1: of us. And for companies like JP Morgan and people
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  Speaker 1: like Jeff Staley, there's nothing that money can't buy. All right, folks,
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  Speaker 1: that's going to do it for this one. If you'd
• 11:00
  Speaker 1: like to contact me, you can do that at bobbycapucci
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  Speaker 1: at protonmail.com. That's B-O-B-B-Y-C-A-P-U-C-C-I at protonmail.com. All of the information
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  Speaker 1: that goes with this episode can be found in the
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  Speaker 1: description box.