JPMorgan sues Jes Staley over alleged ties to Jeffrey Epstein

Yeah, good morning, Andrew. J.P. Morgan is facing multiple lawsuits alleging that the bank aided Jeffrey Epstein in sex trafficking by keeping him on as a client and helping him send money to victims over the years. Yesterday's action from the bank, which was filed in a Manhattan federal court, argues that Staley, who documents show had a close personal relationship with Epstein, should be held liable for any damages if the bank loses either of the cases that are pending against it. J.P.

Morgan not admitting wrongdoing here, but suggesting that if it's found liable, that Staley should be the one to pay the bill. Now, as part of Wednesday's filing, J.P. Morgan is also seeking to claw back all of Staley's compensation from 2006 to 2013. Staley, who left J.P. Morgan back in 2013, has said that while he was friendly with Epstein, he never knew about Epstein's crimes.

One of the questions in this high-profile legal battle is what knowledge, if any, Jamie Diamond, the CEO of the firm, had of the Epstein situation. Now, just two weeks ago, J.P. Morgan told us it couldn't find any indication that Diamond personally reviewed Epstein's accounts back in 2008, that despite one of the emails being released in this case, suggesting that maybe there was a Diamond review of those accounts that was pending. So, we've not been able to reach out to lawyers representing Staley so far, but J.P. Morgan told CNBC last night.

In part, we expect all of our employees at every level of the firm act with honesty and integrity if these allegations against Staley are true. He violated this duty by putting his own personal interests ahead of the companies. Andrew, back over to you.

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