JPMorgan Chase processed over $1 billion in transactions for Jeffrey Epstein over 15 years, allowing the convicted sex offender to withdraw more than $5 million in cash. The bank's relationship with Epstein, cultivated through executive Jes Staley, became central to a new Financial Times investigation revealing how the institution facilitated his activities while employees raised repeated concerns about suspicious behavior.

Staley, who rose to prominence after Epstein helped broker a 2004 deal for JPMorgan to acquire Highbridge Capital, defended the financier for years despite internal warnings. Documents show Epstein generated significant revenue for the bank's private banking division, with bankers boasting about his $500 million net worth and welcoming him at headquarters. Meanwhile, lower-level officials and compliance teams grew increasingly alarmed by his activities.

JPMorgan eventually closed Epstein's accounts in 2013, but not before Deutsche Bank took over his business, allowing him to withdraw $200,000 annually and send hundreds of thousands to foreign models. The bank maintains it filed suspicious activity reports starting in 2002 but received no government response. CEO Jamie Dimon was notably uninvolved, having never met or communicated with Epstein directly.