World

JPMorgan accuses US Virgin Islands of hiding Jeffrey Epstein for two decades

JPMorgan Chase & Co on Tuesday sought to shift blame for failing to snuff out sex crimes committed by the late Jeffrey Epstein, accusing the US Virgin Islands of harboring, and shielding the disgraced financier as he abused young women and girls over two decades.

The largest US bank made the accusation in a heavily redacted filing in Manhattan federal court, where the US Virgin Islands is suing to hold it liable for providing banking services to Epstein from 1998 to 2013.

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JPMorgan said Epstein had a “quid pro quo” relationship with the US Virgin Islands’ highest-ranking officials, bestowing money and favors in exchange for millions of dollars of tax incentives and looking the other way at his crimes.

Epstein, a registered sex offender, allegedly abused women and girls on a private island he owned within the territory and bought a second island nearby to keep people from spying on him.

“For two decades, and for long after JPMC exited Epstein as a client, the entity that most directly failed to protect public safety and most actively facilitated and benefited from Epstein’s continued criminal activity was the plaintiff in this case—the USVI government itself,” the bank said.

A spokesperson for the US Virgin Islands attorney general’s office called the filing “an obvious attempt to shift blame away from JPMorgan Chase, which had a legal responsibility to report the evidence in its possession of Epstein’s human trafficking and failed to do so.”

Tuesday’s filing opposed the territory’s effort to strike four JPMorgan defenses to the lawsuit that allegedly “threaten to expose” its relationship with Epstein, including that the US Virgin Islands had “unclean hands.”

Epstein died in a Manhattan jail in August 2019 while awaiting trial for sex trafficking. New York City’s medical examiner called his death a suicide.

‘Close ties’

JPMorgan said Epstein had “close ties” to the territory’s last three governors, including incumbent Albert Bryan.

It also said Epstein’s “primary conduit” for spreading money and influence had been former First Lady Cecile de Jongh, whose husband was governor from 2007 to 2015.

The filing said Epstein also supported Congresswoman Stacey Plaskett, now the territory’s delegate to the US Congress and who once worked for agency that awarded his tax benefits.

Cecile de Jongh did not immediately respond to an email request for comment. Plaskett’s office did not immediately respond to requests for comment.

Bryan is scheduled to testify under oath in a June 6 deposition. The attorney general’s office had no comment on his behalf.

JPMorgan also faces a proposed class action by women who say Epstein sexually abused them and that the bank should have cut ties to Epstein sooner.

The bank is separately suing Jes Staley, who once led its asset management business and had been friendly with Epstein, to have him cover its losses in the other two lawsuits.

Staley has expressed regret for befriending Epstein but denied knowing about his crimes, and accused JPMorgan of making him a scapegoat for its own supervisory failures.

The three lawsuits are scheduled for an Oct. 23 trial.

Deutsche Bank AG, where Epstein was a client from 2013 to 2018, last week settled a lawsuit by his accusers for $75 million.

The case is Government of the US Virgin Islands v. JPMorgan Chase Bank NA, US District Court, Southern District of New York, No. 22-10904.

Largest US bank JPMorgan sues former banker Staley over Jeffrey Epstein ties

Deutsche Bank to pay $75 mln to settle lawsuit by Jeffrey Epstein accusers

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM