Jamie Dimon, CEO of JPMorgan Chase, has been employed for escrow

Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co., during a Senate Committee on Banking, Housing and Urban Affairs Committee hearing in Washington, DC, on Thursday, September 22, 2022.

Al Drago | Bloomberg | Getty Images

JPMorgan Chase CEO Jamie Dimon will be ousted over two days in late May over civil lawsuits accusing the giant bank of profiting from the late money manager Jeffrey Epstein’s sex trafficking, a source told CNBC’s Eamon Javers on Wednesday.

Dimon’s oath hearing will take place on May 26 and 27, a Friday and Saturday, in New York, the source said.

A person with knowledge of Dimon’s testimony said, “Planning is fluid and subject to change.”

The US Virgin Islands government and one of Epstein’s accusers are suing JPMorgan in US District Court in Manhattan. The bank has denied any wrongdoing.

Epstein was a client of JPMorgan for years. The bank only severed ties with him in 2013, five years after he pleaded guilty in Florida state court to soliciting sex from an underage girl.

“Jamie Dimon knew in 2008 that his billionaire was a sex trafficker,” a US Virgin Islands attorney said at a court hearing in March.

The bank said Dimon had no knowledge of Epstein relevant to the lawsuits.

In addition to US attorneys and Epstein’s accusers, attorneys for Jes Staley, former JPMorgan investment banking chief, will be questioning Dimon.

JPMorgan argues that Staley, not the bank, is legally responsible for any civil liability related to his dealings with Epstein.

On Wednesday, attorneys for the lawsuits were scheduled to remove William Langford, who previously served as JPMorgan’s top executive responsible for anti-money laundering, financial crime compliance and regulatory management.

The Virgin Islands lawsuit alleges that JPMorgan “facilitated and obfuscated wire and cash transactions that raised suspicion of — and in fact formed part of — a criminal enterprise whose currency was the sexual bondage of dozens of women and girls on and off the coast.” Virgin Islands was .”

“Human trafficking was that [principal] business of the accounts Epstein maintained at JP Morgan,” the lawsuit reads.

Epstein killed himself in a Manhattan jail cell in 2019, a month after he was arrested on federal allegations of child sex trafficking.

He was previously friends with two former Presidents, Donald Trump and Bill Clinton, and Britain’s Prince Andrew, as well as a number of other wealthy and powerful people.

Correction: A previous headline cited multiple sources for the timing of Jamie Dimon’s expected statement, although there was only one source. CNBC has since confirmed the timing with multiple sources.

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