Jamie Dimon Photo source Company’s Website
Jamie Dimon, CEO of JPMorgan Chase, went to China this week along with a number of other American business leaders where he reportedly had meetings with what were described as senior American and Chinese commerce officials. Meanwhile, Dimon is still dealing with the fallout from JPMorgan Chase’s business relationship with the late pedophile and rapist Jeffrey Epstein.
Reuters reported that Jamie Dimon explained he went to China, in part, to help fix the security and trade disputes between the China and the U.S. saying, “You’re not going to fix these things if you are just sitting across the Pacific yelling at each other, so I’m hoping we have real engagement.”
Chinese state media released a statement saying that during a meeting with Shanghai officials Jamie Dimon pledged that JPMorgan Chase will “increase its business layout in Shanghai, deepen cooperation in the fields of science and technology innovation finance, green finance, etc., and play a role as a bridge for global companies to understand Shanghai and invest in Shanghai and the construction of Shanghai International Financial Center.”
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As for the continuing Jeffrey Epstein imbroglio, Jamie Dimon seemed to pass the buck on the matter saying that JPMorgan Chase’s former general counsel Steve Cutler was the “ultimate decider” who could have chosen to cut ties with Epstein at any time. Cutler served in that role from 2006 to 2017.
The U.S. Virgin Islands and one of Jeffrey Epstein’s victims have each filed separate civil suits alleging that the bank is liable for the transfer of funds belonging to Epstein they allege are owed to them.
Financial Times reported that this was what Jamie Dimon testified to in a seven-hour deposition he was forced to sit through last week in connection to JPMorgan’s relationship with Jeffrey Epstein.
“If [Steve Cutler] allowed them to make that judgment, it’s because he didn’t step in and say, you have to go. But he could have done that,” Jamie Dimon said in his deposition. “Mr Cutler had the ultimate authority to kick him out if he thought it had gone that far. I think the ultimate decider would have been the general counsel of the company.”
But, explained Financial Times, lawyers for the US Virgin Islands said Steve Cutler named former JPMorgan Chase execs Mary Erdoes and Jes Staley as the executives responsible for keeping Epstein on after his first arrest for sex crimes in 2006.
Jamie Dimon is Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., a global financial services firm with assets of $3.2 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small businesses, commercial banking, financial transaction processing and asset management.
Dimon became CEO on January 1, 2006, and one year later also became Chairman of the Board. He was named President and Chief Operating Officer upon the company’s merger with Bank One Corporation on July 1, 2004. Dimon joined Bank One as Chairman and CEO in 2000.
