Topline
Prosecutors in the U.S. Virgin Islands can subpoena billionaire Elon Musk through Tesla as part of their civil lawsuit against JPMorgan Chase over the bank’s ties to Jeffrey Epstein, a judge ruled Wednesday, the latest billionaire to be brought into a case alleging JPMorgan Chase knew of and benefited from Epstein’s sex trafficking ring.
FILE – Elon Musk departs the Phillip Burton Federal Building and United States Court House in San … [+]
Key Facts
Musk was initially subpoenaed because lawyers for the territory believed Epstein “may have referred or attempted to refer (Musk) to JPMorgan.”
The subpoena directs Musk to give the court all communication records he has with Epstein and JPMorgan and “all documents reflecting or regarding Epstein’s involvement in human trafficking and/or his procurement of girls or women for commercial sex.”
Attorneys for the Virgin Islands have tried to subpoena Musk since April 28, according to previous court filings, but failed to make contact with him despite “good-faith attempts,” going so far as to hire an investigative firm to identify Musk’s potential addresses.
After the failed attempts, the attorneys asked the court if it would allow the subpoena to be delivered through Tesla’s registered agent—a request approved Wednesday by New York-based federal Judge Jed Rakoff.
Musk called the subpoena “idiotic” in a tweet on Monday, calling Epstein a “cretin” and saying “the notion that I would need or listen to financial advice from a dumb crook is absurd,” and adding that JPMorgan “let Tesla down ten years ago” and Musk withdrew Tesla’s business and hasn’t forgiven them.
Key Background
The lawsuit from the Virgin Islands alleges that JPMorgan—which counted the now-deceased Epstein as a client from 1998 to 2013—“turned a blind eye” to red flags indicating Epstein was running a sex-trafficking ring on his private island, Little St. James. It alleges the bank failed to report his suspicious activities and continued to give him services reserved for high-wealth clients after he was convicted of soliciting a minor for prostitution in 2008 in Florida. JPMorgan has continuously denied that executives were aware of the allegations against Epstein, save for Jes Staley, a former investment banking executive whom the bank accused of concealing a personal relationship with Epstein and perhaps participating in the sex trafficking operation. CEO Jamie Dimon—who is set to testify later this month—said last week in an interview with Bloomberg that while he’s sad the bank had a business relationship with Epstein, they aren’t legally liable for their client’s sex trafficking.
Tangent
Musk is the latest in a string of billionaires—including Google co-founder Sergey Brin, Hyatt Hotels executive chairman Thomas Pritzker and real estate mogul Mortimer Zuckerman—to be subpoenaed in the case, though Musk continues to deny any ties to Epstein, who was charged with federal sex trafficking in 2019 and died by suicide while awaiting trial. In a 2018 New York Times article, Epstein indicated that he had been advising Musk but would have to stop if that became public, though Musk’s team refuted the claim, telling the Times “it is incorrect to say that Epstein ever advised Elon on anything.” Musk has also denied rumors that Epstein toured SpaceX, tweeting in 2020: “To the best of our knowledge, he never toured SpaceX. Don’t know where that comes from.”
Forbes Valuation
We estimate Musk to be worth $180.6 billion, as of Wednesday, making him the second-richest person in the world.
Further Reading
Jeffrey Epstein Lawsuit: Musk Subpoenaed As Case Embroils Another Billionaire (Forbes)
Epstein-related subpoena for Musk can be served to Tesla, judge rules (Washington Post)
Source: https://www.forbes.com/sites/mollybohannon/2023/05/17/musk-can-be-subpoenaed-through-tesla-in-jeffrey-epstein-jpmorgan-lawsuit-judge-rules/