JPMorgan Executive Exposed Confidential Deals with Convicted Sex Offender

Former JPMorgan executive Jes Staley revealed under oath that he shared confidential information with convicted sex offender Jeffrey Epstein, including details about the bank's communications with the Federal Reserve during the 2008 financial crisis and a figure of $44 billion in private bank inflows over two weeks. Staley testified before the House Committee on Oversight and Government Reform in July as part of its investigation into Epstein and his associate Ghislaine Maxwell.

Staley divulged to Epstein that he had been designated a high-risk client, and he also informed him about the bank's concerns over his large cash withdrawals. He claimed he believed he had the authority to share information when he considered it appropriate. Staley maintained he had a close professional relationship with Epstein but was unaware of his crimes.

The former executive 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. Staley also confirmed that he had been appointed to a role in connection with Epstein's estate years after his 2008 conviction.