Staley admits sharing $44B JPMorgan data with Epstein in testimony

Former JPMorgan Chase executive Jes Staley admitted to U.S. lawmakers he repeatedly shared confidential bank information with Jeffrey Epstein, including Federal Reserve communications and a $44 billion private-bank inflow figure, per a transcript released Wednesday.

"We have credible information that you have aggressively, even violently, sexually assaulted multiple women connected to Mr. Epstein," a committee staffer told Staley during the closed-door, voluntary interview conducted July 24, according to the 200-page transcript released by the House Committee on Oversight and Government Reform.

Staley told lawmakers he divulged to Epstein the bank's communications with the Federal Reserve during the 2008 financial crisis, a figure of $44 billion in private bank inflows over two weeks, his own compensation, and details of pending deals. He also confirmed he informed Epstein that JPMorgan had designated him a high-risk client as concerns grew over large cash withdrawals.

The disclosures expose governance failures at one of the largest U.S. banks and could fuel regulatory scrutiny of JPMorgan's compliance controls, potentially leading to penalties and reputational damage as the committee continues its broader investigation into Epstein's ties with political and business elites.

Snow White Emails Under Scrutiny

The committee also pressed Staley on communications with an unidentified woman referenced in a series of 2010 emails. On July 9, 2010, Staley asked Epstein to "say hi to Snow White," referencing a "fun" event or social encounter. Epstein responded by asking which character Staley would like next.

The committee asked Staley about related communications between the woman and Epstein, including a June 2010 email in which Epstein directed her to purchase a Snow White costume. In another email sent the same day as Staley's reference, the woman said that Snow White had sex twice as soon as she put on the costume. Staley denied any sexual encounter with that woman, as well as meeting her, and said he had no knowledge of any directive Epstein may have given her.

Estate Trustee and Barclays Tenure

Staley also confirmed he had been appointed to a role in connection with Epstein's estate years after his 2008 conviction. He said he signed documents related to the Epstein trust in 2014 and a trust amendment in 2015, but later declined to serve because he did not want to be associated with the estate and did not receive any compensation for it.

Staley spent more than three decades at JPMorgan, where he ran the private bank and asset-management business for which Epstein was a client, before leading Barclays from 2015 until his resignation in 2021. He has maintained he had a close professional relationship with Epstein but was unaware of his crimes. His name appears thousands of times in the millions of Epstein-related documents the Department of Justice released since December, including notes in which he called his friendship with Epstein "profound" and Epstein called him "family."

The oversight committee has interviewed figures including former President Bill Clinton, Commerce Secretary and former Cantor Fitzgerald CEO Howard Lutnick, Microsoft co-founder Bill Gates, and Goldman Sachs senior counsel Kathy Ruemmler as part of its investigation into Epstein and his associate Ghislaine Maxwell.

Epstein, the disgraced financier and convicted sex offender, died in jail in 2019 while awaiting trial on federal sex-trafficking charges. He had extensive ties to many prominent people in politics, finance, academia, and business, including U.S. President Donald Trump.

For JPMorgan, the transcript release raises questions about whether internal controls adequately flagged Epstein's activities during Staley's tenure running the private bank. The committee's findings could inform potential legislative or regulatory action targeting bank compliance with high-risk client monitoring, with the investigation still ongoing and additional transcripts expected to be released.

JPMorgan declined to comment. Staley's lawyers did not immediately respond to a request for comment.

This article is for informational purposes only and does not constitute investment advice.