Latest / The Epstein Chronicles / Jes Staley And The Transcripts From His Epstein Related Trip To Congress (Part 8) (9/3/26)

Transcript

Jes Staley And The Transcripts From His Epstein Related Trip To Congress (Part 8) (9/3/26) · The Epstein Chronicles

• 0:00
  Speaker 1: What's up everyone and welcome to another episode of the
• 0:03
  Speaker 1: Epstein Chronicles. In this episode, we're going to dive right
• 0:06
  Speaker 1: back in to the Jess Staley transcript from his trip
• 0:09
  Speaker 1: to Congress. Question. When you reported it to Mary Erdos,
• 0:14
  Speaker 1: he gets corrected by Staley. You mean Langford? Question Langford.
• 0:19
  Speaker 1: What did you say? Answer. I said this. This is
• 0:22
  Speaker 1: something that I think both Mary and I said. This
• 0:25
  Speaker 1: is something very concerning. And let's get the bank to
• 0:28
  Speaker 1: look into it and decide what to do. Question, why
• 0:31
  Speaker 1: did they not part ways with Mr. Epstein at the time? Answer,
• 0:34
  Speaker 1: my understanding is the bank restricted his activities significantly within
• 0:38
  Speaker 1: the bank. And while looking back, it may not seem
• 0:41
  Speaker 1: as much, but back then, that was a major move
• 0:44
  Speaker 1: by the bank. And I think for the moment in time,
• 0:47
  Speaker 1: that deemed sufficient withdrawal of the bank's Epstein business activities. Question,
• 0:52
  Speaker 1: how many meetings took place on this? Answer, I don't
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  Speaker 1: know how often the rapid response team met. Question, for
• 0:58
  Speaker 1: the record, the committee... has reviewed documents that reflect at
• 1:01
  Speaker 1: least five to six meetings on this topic. Staley, also
• 1:05
  Speaker 1: those rapid response meetings would also, I think, were filed
• 1:08
  Speaker 1: with the federal government. Question, thank you. In July 2006, Mr.
• 1:12
  Speaker 1: Epstein was arrested for the first time for soliciting prostitution
• 1:16
  Speaker 1: for minors. Did you discuss the allegations with Mr. Epstein? Answer, yes. Question,
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  Speaker 1: can you describe what happened in that conversation? Answer again.
• 1:26
  Speaker 1: He said he was shocked by the allegation. He denied it.
• 1:28
  Speaker 1: and he denied the ages. Question, Palm Beach detective Joseph
• 1:32
  Speaker 1: Ricari spoke out about his belief that Epstein was tipped
• 1:36
  Speaker 1: off about the raid since multiple computers expected to be
• 1:39
  Speaker 1: at his house were missing when the search warrant was executed.
• 1:43
  Speaker 1: Did anyone tip off Mr. Epstein to the raid? Answer,
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  Speaker 1: I have no idea. Question, did you ever hear of
• 1:49
  Speaker 1: anyone informing Mr. Epstein about the impending search warrant? Answer, no. Question,
• 1:54
  Speaker 1: were you surprised by his arrest? Answer, sure. Question, why? Answer,
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  Speaker 1: because I had known Epstein for a number of years. Again,
• 2:01
  Speaker 1: he was involved with things like Highbridge Capital Transaction, and
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  Speaker 1: someone who, you know, gets arrested with sex with a minor,
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  Speaker 1: that's shocking. Now Ms. Toland jumps in. Question, what exactly
• 2:12
  Speaker 1: did Mr. Epstein tell you had occurred that led to
• 2:15
  Speaker 1: his arrest? Answer, I think there was press about victims
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  Speaker 1: reporting to authorities that they were victimized, and I think
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  Speaker 1: that's what prompted it. Question, what did he tell you
• 2:25
  Speaker 1: about his side of the story? Or did he tell
• 2:27
  Speaker 1: you something different? Ms. Brignac, so on his arrest, it's
• 2:30
  Speaker 1: published in the press, more people are becoming aware. Did
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  Speaker 1: you begin to hear any rumors that his conduct with
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  Speaker 1: minors or a young woman? Answer, just what I read
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  Speaker 1: in the press. Question, but did you discuss it with
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  Speaker 1: anyone else in your financial circle? Did any more information
• 2:45
  Speaker 1: become available as you began to discuss it with others? Answer,
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  Speaker 1: separate from the press, I don't believe so. Question, the
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  Speaker 1: FCA says they doubted you. Were surprised at the arrest
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  Speaker 1: given all the reports and allegations that you were aware
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  Speaker 1: of by then? Answer in 2006. Question correct. The FCA
• 3:05
  Speaker 1: found that the bank at large was well aware and
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  Speaker 1: that by 2006, the reports and allegations he was facing
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  Speaker 1: caused them to doubt to believe that you would have
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  Speaker 1: been surprised. Answer. Are you sure that's 2006? I think
• 3:19
  Speaker 1: the bank was as surprised as I was. Question the FCA.
• 3:22
  Speaker 1: said that by 2006, but definitely by 2010, JP Morgan
• 3:26
  Speaker 1: was aware, given Mary Erdo's testimony. Answer, that's four years.
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  Speaker 1: So let's ask the question in the context of 2010. Question,
• 3:35
  Speaker 1: so my question to you is, do you think the
• 3:38
  Speaker 1: FCA stated that they doubt you were surprised by the allegations? Answer,
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  Speaker 1: I think in 2010, I would not have been surprised
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  Speaker 1: by the allegations. Question, why? Answer, he'd gone to jail
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  Speaker 1: for it. Question, so at the time, You did understand
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  Speaker 1: that he was soliciting prostitution for minors. Answer, he had
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  Speaker 1: pleaded guilty and he'd gone to jail. Question, thank you.
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  Speaker 1: Now we got Ms. Tolan again. And just one quick
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  Speaker 1: follow-up on the rapid response meeting that we were discussing
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  Speaker 1: a moment ago. Why were you not part of the
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  Speaker 1: team or those meetings? Staley, because I was not part
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  Speaker 1: of the rapid response team. Brignac now asking questions. Question,
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  Speaker 1: I would like to enter into the record Majority Exhibit 7.
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  Speaker 1: This is an email exchange between you, Mr. Staley, and Mr.
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  Speaker 1: Epstein on November 1st, 2009. It's bait-stamped EFTA 007-68032. Brignac,
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  Speaker 1: we'll go off the record to pass this out and
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  Speaker 1: give you a moment to review. We'll go back on
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  Speaker 1: the record. Question, so on November 1st, 2009, you emailed Mr. Epstein,
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  Speaker 1: so when all hell breaks loose and the world is crumbling,
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  Speaker 1: I'll come here and be at peace. Presently, I'm in
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  Speaker 1: the hot tub with a glass of white wine. This
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  Speaker 1: is an amazing place, truly amazing. Next time we're here together,
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  Speaker 1: I owe you so much, and I deeply appreciate your friendship.
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  Speaker 1: I have few so profound. Mr. Staley, what prompted you
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  Speaker 1: to send this email? Answer, I believe this is when
• 5:05
  Speaker 1: I visited his ranch. I was in Albuquerque on business,
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  Speaker 1: and my understanding was he had the largest ranch in
• 5:11
  Speaker 1: the state of New Mexico. He wasn't there, but I
• 5:13
  Speaker 1: was going to travel home that day. I asked if
• 5:16
  Speaker 1: I could stop by and see his ranch. There was
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  Speaker 1: a couple taking care of the ranch. I was there.
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  Speaker 1: They happened to have a saddled horse for me. I
• 5:23
  Speaker 1: ride horses. So I went for a quick ride on
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  Speaker 1: the horse, got off. And I remember in the basement
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  Speaker 1: of the house was like a spa area with a
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  Speaker 1: big swimming pool. And I just went there to take
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  Speaker 1: a shower and change. And I believe there was, I
• 5:36
  Speaker 1: took a shower and I jumped into the hot tub.
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  Speaker 1: I think there was a mini bar and I grabbed
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  Speaker 1: a glass of white wine and I later sent him
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  Speaker 1: the email. Question, what did you mean by I owe
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  Speaker 1: you so much? Answer, you know, he had been helpful
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  Speaker 1: in my career. He had done. He was instrumental in
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  Speaker 1: the high bridge transaction. He had given me, you know,
• 5:54
  Speaker 1: advice along the way. And I was visiting this extraordinary ranch.
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  Speaker 1: And as I said, I use effusive language. And that's
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  Speaker 1: what I was doing. Question, you testified earlier that you
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  Speaker 1: understood that he did solicit prostitution for minors when he
• 6:08
  Speaker 1: pled guilty. He pled guilty in 2008. And you sent
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  Speaker 1: this email in 2009. So why did you maintain your
• 6:16
  Speaker 1: friendship with Mr. Epstein who had solicited prostitution for minors?
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  Speaker 1: Answer again. It's inconceivable to me that he would have
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  Speaker 1: continued and I thought he had paid his fine. He
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  Speaker 1: had gone to jail. My expectation as he would have
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  Speaker 1: reformed himself. And so I maintained the relationship because he
• 6:32
  Speaker 1: had done a number of viable things to me in
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  Speaker 1: my career. Question. So you maintain your relationship with a
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  Speaker 1: sex offender because he did valuable things for your career. Answer.
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  Speaker 1: I thought it was a one-off event. And so, no,
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  Speaker 1: I didn't think. I'll leave it at that. Question, why
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  Speaker 1: did you believe he would reform himself? Question, because I
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  Speaker 1: would think if you would go, if you spent time
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  Speaker 1: in jail, the last thing you would do is repeat
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  Speaker 1: the behavior that put you in jail. Question, Mr. Staley,
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  Speaker 1: you seem to have a great recollection about the ranch
• 7:01
  Speaker 1: and all the events that took place there in 2009,
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  Speaker 1: but you can't remember the Snow White events of July
• 7:08
  Speaker 1: 2010 based on your memory? Can you help reconcile my
• 7:12
  Speaker 1: confusion on this? Answer, one thing, getting in the car,
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  Speaker 1: driving an hour, going to a ranch, riding on a horse,
• 7:19
  Speaker 1: seeing a whole new environment, you know, using the spa,
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  Speaker 1: the whole thing surrounding it, as opposed to someone who
• 7:25
  Speaker 1: apparently I crossed, you know, for a few minutes, I
• 7:27
  Speaker 1: think is quite a difference. Question, do you normally see
• 7:31
  Speaker 1: young women in Halloween costumes at your friend's house? Answer, again,
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  Speaker 1: I don't recall that I met someone in a Halloween costume. Question,
• 7:39
  Speaker 1: but you said you may have. Answer, I don't. He
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  Speaker 1: gets cut off. Question, That's not an event you recall? Answer,
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  Speaker 1: I don't remember seeing Snow White. Question by Ms. Toland.
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  Speaker 1: And when you visited his ranch, did you see anyone
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  Speaker 1: else there besides the couple who worked there? Answer, no,
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  Speaker 1: just the couple and the horse. Question, on your visits
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  Speaker 1: to any of Mr. Epstein's properties, did you see anything unusual? Answer, no. Question,
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  Speaker 1: it's been reported that Mr. Epstein kept nude photographs in
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  Speaker 1: his home. Did you ever see nude photographs? Answer, no. Question,
• 8:10
  Speaker 1: did you see unusual artwork? Answer, yes. Question, what did
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  Speaker 1: you see? Answer, the one that stands out is that
• 8:17
  Speaker 1: he had a painting of someone reclining in a chair
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  Speaker 1: with like sort of a dress on with the head
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  Speaker 1: of President Clinton. Question, do you know why he had
• 8:24
  Speaker 1: this photograph? Answer, no. Question, did you ever ask about it? Answer,
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  Speaker 1: I think he saw it as some sort of joke. Question,
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  Speaker 1: in prior testimony, you've stated that over 25 individual entities
• 8:36
  Speaker 1: were referred to the bank by Mr. Epstein, to include
• 8:39
  Speaker 1: Sergey Brin, Google Sultan Ahmed bin Suleiman, Ehud Barak, Peter Mandelson,
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  Speaker 1: Mort Zuckerman, LaFrac Family, Highbridge Capital Management, Glenn Dubin, Eva Dubin,
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  Speaker 1: Andrew Farkas, Catherine Rumler, Bill Gates, Leon Black, Boris Nikolic,
• 8:54
  Speaker 1: David Gergen, Larry Summers, Nathan Mierwald, Kimball Musk, Elon Musk,
• 8:59
  Speaker 1: Les Wexner, Bill Richardson, and George Mitchell. Is that correct? Answer, yes. Question,
• 9:06
  Speaker 1: did Mr. Epstein also facilitate meetings between individuals at J.P.
• 9:10
  Speaker 1: Morgan with Andrew Mountbatten-Windsor? formerly known as Prince Andrew? Answer,
• 9:15
  Speaker 1: I don't believe so. Question, I believe you previously testified
• 9:18
  Speaker 1: that he did. Answer, that he did. Question, is your testimony? Answer,
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  Speaker 1: so ask a question again, sorry. Question, has Mr. Epstein
• 9:25
  Speaker 1: facilitated meetings between individuals at J.P. Morgan with Andrew, Mountbatten, Windsor,
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  Speaker 1: formerly known as Prince Andrew? Answer, yes, sorry, I apologize. Question,
• 9:35
  Speaker 1: thank you. Why did Mr. Epstein refer these clients to J.P. Morgan? Answer,
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  Speaker 1: I think it was part of him building out his network.
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  Speaker 1: And I think in hindsight, I think that what he
• 9:46
  Speaker 1: was doing was, you know, we thought he was introducing
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  Speaker 1: us to these people to help JP Morgan. But I
• 9:51
  Speaker 1: think he was showing to these individuals that he was
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  Speaker 1: connected to JP Morgan to build his credibility. Question, did
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  Speaker 1: all these referrals eventually become client-friendly? of JP Morgan? Answer,
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  Speaker 1: I think many of them were already clients actually, and
• 10:05
  Speaker 1: some of them became clients. Yes, like Larry and Sergey
• 10:08
  Speaker 1: Brin of Google became clients on the back of that. Question,
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  Speaker 1: did you benefit from any of these client referrals? Answer,
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  Speaker 1: I mean if you're running the private bank. and you
• 10:18
  Speaker 1: get introduced to three of the five wealthiest men potentially
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  Speaker 1: in the world, yeah, that's a valuable thing. Question, but
• 10:25
  Speaker 1: did it actually benefit your career? Did you realize any
• 10:28
  Speaker 1: benefit in your career? Answer, beyond what is reflected in
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  Speaker 1: the private bank, I didn't personally get something individually because like,
• 10:35
  Speaker 1: there's no finder fee or something like that, if that's
• 10:38
  Speaker 1: what you're referring to. Answer, there's no monetary benefit. Answer, no. Question,
• 10:42
  Speaker 1: did you manage the client's accounts? Answer, no. Question, did
• 10:46
  Speaker 1: Epstein ever ask you To take a role in someone's account? Answer, no. Question,
• 10:51
  Speaker 1: was Mr. Epstein involved in any of the accounts? Answer, no. Question,
• 10:55
  Speaker 1: how much revenue did J.P. Morgan generate from Mr. Epstein's
• 10:58
  Speaker 1: new client referrals? Answer, I wasn't aware then, but I've
• 11:02
  Speaker 1: read subsequent it would be, you know, well over 100 million. Question,
• 11:06
  Speaker 1: and that would have made him an incredibly valuable client, correct? Answer, yeah.
• 11:11
  Speaker 1: I think the introduction of people that, of the level
• 11:14
  Speaker 1: of people that he brought us, was very valuable, yes. Question,
• 11:19
  Speaker 1: do you think his value caused JP Morgan to turn
• 11:21
  Speaker 1: their heads at the suspicious things that Mr. Epstein was
• 11:25
  Speaker 1: engaged in even following 2008? Answer again, I was not
• 11:29
  Speaker 1: part of the bank that reviewed his account. I was
• 11:32
  Speaker 1: not part of the rapid response team. I was not
• 11:34
  Speaker 1: part of compliance. So I'd be speculating as to what
• 11:37
  Speaker 1: their motivations were. Question, I'm asking you to speculate. Do
• 11:41
  Speaker 1: you believe that JP Morgan kept Mr. Epstein as a
• 11:44
  Speaker 1: high risk client because he generated so much revenue for
• 11:47
  Speaker 1: the bank? Answer, no, I don't. I think JP Morgan
• 11:50
  Speaker 1: felt that the principal activity of the private bank is
• 11:53
  Speaker 1: to invest money. And I think Morgan took the decision
• 11:56
  Speaker 1: to no longer deal with Epstein in the management of
• 11:58
  Speaker 1: his assets. That was a major move by the bank
• 12:01
  Speaker 1: against him in the bank's mind. Question, who had visibility
• 12:05
  Speaker 1: into Mr. Epstein's accounts? Answer, I think the bankers that
• 12:08
  Speaker 1: managed his accounts. I think compliance did. I think legal did.
• 12:11
  Speaker 1: I think risk did. And people in operations did. Question,
• 12:15
  Speaker 1: did you? Answer, no. Question, did you ever review any transaction? Answer, no. Question,
• 12:22
  Speaker 1: were his transactions ever discussed with you? Answer, at some
• 12:26
  Speaker 1: point I learned that he was making cash withdrawals and
• 12:28
  Speaker 1: I asked him about that because cash withdrawals were a
• 12:31
  Speaker 1: red light for the bank and a red light for regulators. Question,
• 12:35
  Speaker 1: when did you become aware of that? Answer, I'm not
• 12:37
  Speaker 1: exactly sure the year, but I want to say 2010, 2011. Question,
• 12:39
  Speaker 1: and who was responsible for reviewing the transactions? Answer, again,
• 12:48
  Speaker 1: members of the rapid response team, heads of compliance, people
• 12:51
  Speaker 1: involved in legal. And I think ultimately, my recollection is
• 12:54
  Speaker 1: it did go all the way to the general counsel
• 12:56
  Speaker 1: of the bank. Question, and who was that? Answer, at
• 13:01
  Speaker 1: the beginning of 2009, 2010, I think it was Steve Cutler.
• 13:05
  Speaker 1: All right, folks, we're going to wrap up right here.
• 13:07
  Speaker 1: And in the next episode, we're going to pick up
• 13:09
  Speaker 1: with question, did you ever ask Mr. Epstein about the
• 13:13
  Speaker 1: cash withdrawals? All the information that goes with this episode
• 13:17
  Speaker 1: can be found in the description box.