Key facts
- JP Morgan CEO Jamie Dimon is under scrutiny for alleged lobbying of the UK Treasury.
- Senator Elizabeth Warren has requested information from Dimon regarding interactions with Jeffrey Epstein.
- The lobbying is reportedly linked to advice from Epstein concerning a UK tax on banker bonuses.
- JP Morgan denies Dimon took counsel from Epstein and states he was not involved in decisions about Epstein's account.
- The bank terminated Epstein as a client in 2013.
JP Morgan CEO Jamie Dimon is facing scrutiny from US lawmakers over allegations that he lobbied the UK Treasury on tax matters, allegedly at the suggestion of convicted sex offender Jeffrey Epstein. Senator Elizabeth Warren has sent Dimon a letter requesting details on any interactions between the bank and Epstein, citing newly released documents.
According to reports, emails suggest that in 2009, Peter Mandelson, then Britain's business secretary, told Epstein that Dimon should "mildly threaten" Alistair Darling, the then-chancellor, over a proposed tax on banker bonuses. This tax imposed an additional 50% rate on bonuses exceeding £25,000.
JP Morgan stated that Dimon "never met with him, never emailed him, and was not involved in any decisions about his account," reiterating the bank's stance from his 2023 deposition. The bank added that Dimon "regularly speaks his mind on bad, anti-growth policy and has his own views" but "at no point did he take counsel from him, directly or indirectly." JPMorgan terminated Epstein as a client in 2013, years before his arrest, and agreed to pay approximately $290 million to settle a class-action lawsuit by his victims in 2023.