JPMorgan General Counsel and Executive VP. 2008 DDR: "Jes Staley conferred with Stephen Cutler and the decision was made to keep him as a PB client." In 2011, acknowledged Jeffrey Epstein concerns were "heightened by the human trafficking initiative that we're doing." July 2011: "This is not an honorable person in any way. He should not be a client" and "Not a person we should do business with, period." Yet Jeffrey Epstein was not offboarded for another two years. JPMorgan's compliance, Cutler, and Private Bank GC Anne Verdon were all aligned that Jeffrey Epstein should go, the business side overruled.
Key Findings
- Named in USVI v. JPMorgan complaint (EFTA00145666 par 100) as participant in five executive meetings about Jeffrey Epstein risks: Jul 2008, Oct 2008, Jan 2011, Aug 2011, Jul 2013
- EFTA00425391: Oct 24, 2011, Jeffrey Epstein calendar shows '2:00 Appt w/Steve Cutler (212 270 3220)' - direct phone number and scheduled meeting before the Nov visits
- Jeffrey Epstein's schedule for Nov 18, 2011 listed a 9:30 appointment with Steve Cutler at his office at 270 Park Ave. (EFTA00423898)
- Tentative breakfast at Jeffrey Epstein's house scheduled Nov 2011 (EFTA00424796)
- Jeffrey Epstein to Staley: 'Spent 45 minutes with cutler' (EFTA01772638, Oct 2011)
- Jeffrey Epstein pressured Staley for access to Cutler: 'still nothing from steve cutler?' (EFTA00778824, Sep 2010)
- Cutler called Jeffrey Epstein directly; 'snidely replied JES is not my boss' when Jeffrey Epstein invoked Staley (EFTA00756241)
- An email dated Wed, 16 Feb 2011 from "Staley, Jes" reads "He was head of enforcement at the SEC" in reply to a message with the subject "Cutler comes out of what firm" (EFTA00904566).
- KYC SMOKING GUN: 'Jes Staley conferred with Stephen Cutler and the decision was made to keep Mr. Epstein as a PB client' (EFTA01480623, written while Jeffrey Epstein in prison per EFTA01480542)
- EFTA00918571: Aug 2011, the initiative a JPMorgan draft dated the same day titles 'PROJECT MOLECULE' (EFTA01301114) - Jeffrey Epstein to Staley and Mary Erdoes: 'I am more than happy to meet with anyone you think moves this along .. cutler. jamie.. etc.' Offered Gates, Facebook/Spotify (Parker), Middle East, Africa, China business as incentive, and floated 'if Tom Pritsker established an investment bank and I did most things with tom, could that be a beginning of a solution?'
- An email dated Sunday, February 12, 2023, attached as Exhibit 2 in Case 1:22-cv-10904-JSR, states: "Mr. Cutler also was included in at least one Rapid Response meeting related to new information regarding Epstein's human trafficking." (EFTA02806286)
- usvi-v-jpmorgan: In his sworn May 24, 2023 deposition (Doc 187-7), Cutler confirmed under oath ('Correct') that at the same time Jeffrey Epstein was pleading guilty to his crimes, JPMorgan 'had a decision to make about whether or not to retain Jeffrey Epstein as a client, and they did so' - the primary-source confirmation of the KYC smoking gun above. Asked whether he recalled the Towers Financial Ponzi scheme (Steven Hoffenberg, Jeffrey Epstein's former associate), the former SEC Director of Enforcement said it only 'rings a bell.'