Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 122-cv-10904 (S.D.N.Y. 2022)/326-18.pdf

EXHIBIT 18 Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 1 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 1 1 UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK 2 GOVERNMENT OF THE UNITED ) 3 STATES VIRGIN ISLANDS ) ) 4 Plaintiff, ) ) 5 vs. ) 1:22-cv-10904-JSR ) 6 JPMORGAN CHASE BANK, N.A., ) ) 7 Defendant/Third- ) Party Plaintiff. ) 8 _________________________ ) JPMORGAN CHASE BANK, N.A. ) 9 ) Third-Party ) 10 Plaintiff, ) ) 11 vs. ) ) 12 JAMES EDWARD STALEY, ) ) 13 Third-Party ) Defendant. ) 14 WEDNESDAY, JULY 12, 2023 15 CONFIDENTIAL - PURSUANT TO PROTECTIVE ORDER 16 – – – 17 Videotaped deposition of Mary Erdoes, held at the offices of 18 Williams & Connolly, 650 Fifth Avenue, Suite 1500, New York, New York, commencing at 19 9:04 a.m. Eastern Time, on the above date, before Carrie A. Campbell, Registered 20 Diplomate Reporter and Certified Realtime Reporter. 21 22 – – – 23 GOLKOW LITIGATION SERVICES 24 877.370.3377 ph | 917.591.5672 fax deps@golkow.com 25 Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 2 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 50 1 Q. So you're talking about 2 documents that you've reviewed with your 3 lawyers in connection with this litigation. 4 That's where you're getting the vouching 5 from? 6 MR. JOHNSON: Objection. 7 THE WITNESS: No. You asked me 8 about my testimony, and I was 9 responding to the conversa -- the -- 10 what we were reviewing. 11 I am not aware, because I was 12 not in any of the discussions that I 13 recall, about the review of Mr. Staley 14 and Mr. Epstein, and the relationship 15 that Mr. Epstein had with the firm. 16 QUESTIONS BY MR. WOHLGEMUTH: 17 Q. So let me put it this way. No 18 one was there in 2013 to vouch for 19 Mr. Epstein, correct? 20 A. No one had a senior 21 relationship with Mr. Epstein like Mr. Staley 22 did. 23 Q. Okay. 24 A. And when Mr. Staley left the 25 firm, there was no one there to give the Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 3 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 51 1 reasons why we would want to keep Mr. Epstein 2 as a client of the firm. 3 Q. But you don't know whether 4 Mr. Staley in fact gave those reasons prior 5 to 2013, because you were not a part of the 6 discussions, correct? 7 A. I don't recall being part of 8 the reviews of Mr. Epstein's relationship. 9 Q. You used the word "vouch." 10 That's an interesting word. 11 Have you used that word to 12 describe Mr. Staley's conduct vis-à-vis 13 Mr. Epstein at any time prior to your 14 deposition? 15 A. I don't know what you mean. 16 Q. Okay. Can you recall ever 17 saying to anyone, outside of your deposition, 18 prior to the time you started preparing for 19 your deposition, Mr. Epstein was vouched for 20 by Mr. Staley? 21 A. I don't recall any discussions. 22 Q. And are you aware that 23 Mr. Cutler happened to use the same word, 24 "vouch," in his testimony? 25 MR. JOHNSON: Objection. Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 4 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 75 1 Q. Okay. Are you -- you're aware 2 that Mr. Staley actually told JPMorgan's 3 legal team that they should talk to Epstein 4 and Epstein's lawyers; isn't that correct? 5 A. I am not aware of that. 6 Q. So you've said, I think a 7 couple times, Mr. Staley was Mr. Epstein's 8 client coverage person or client sponsor; is 9 that correct? 10 A. He was -- 11 MR. JOHNSON: Objection. 12 THE WITNESS: I -- 13 MR. JOHNSON: You can answer. 14 THE WITNESS: Sorry. 15 QUESTIONS BY MR. WOHLGEMUTH: 16 Q. You can answer. 17 A. Mr. Staley was the most-senior 18 representative and relationship person for 19 Mr. Epstein. 20 Q. So that's what I want to probe. 21 I want to probe exactly what you mean by 22 client coverage person or client sponsor. 23 I understand what you just said 24 to be that Mr. Staley was the most-senior 25 person at JPMorgan who was closest to Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 5 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 112 1 bank, correct? 2 A. I did. 3 Q. And so here's the general 4 counsel -- strike that. 5 Mr. Cutler at this time was the 6 general counsel of JPMorgan? 7 A. Yes. 8 Q. So here's the general counsel 9 of JPMorgan telling you, head of asset and 10 wealth management, there's a private 11 client -- there's a private banking client 12 that we should not do business with, period, 13 and you didn't take any action because you 14 were not his client coverage person? 15 MR. JOHNSON: Objection. 16 THE WITNESS: I don't know what 17 that means. 18 QUESTIONS BY MR. WOHLGEMUTH: 19 Q. Okay. Well, when you -- when 20 Mr. Cutler told you, as the head of asset and 21 wealth management business, Mr. Epstein is 22 not a person we should do business with, 23 period, why didn't you, as the overseer of 24 the private bank, throw him out of the bank? 25 A. I wasn't responsible for Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 6 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 113 1 Mr. Epstein's relationship with the bank. 2 Q. But you were responsible for 3 the private bank, correct, ma'am? 4 A. Correct. 5 Q. And so why, as the person 6 responsible for the private bank, wouldn't 7 you execute on Mr. Cutler, who is the general 8 counsel of the bank's, wishes? 9 A. I don't know what Mr. Cutler's 10 wishes were. 11 Q. Okay. 12 A. None of us wanted to do 13 business after having a lawsuit with someone 14 who sues you. And there's a process by which 15 people review accounts, and I'm not 16 responsible for his account, and I don't 17 recall being part of those discussions. 18 Q. Well, after Mr. Cutler -- well, 19 strike that. 20 Do you take -- did you 21 understand Mr. Cutler's point about putting 22 Mr. Epstein behind us and him, Mr. Epstein, 23 not being a person we should do business 24 with, as a commentary on Mr. Cutler not 25 wanting to do business with someone who had Case 1:22-cv-10904-JSR Document 326-18 Filed 09/08/23 Page 7 of 8 Confidential - Pursuant to Protective Order Golkow Litigation ServicesPage 114 1 threatened to sue JPMorgan? 2 A. Again, I don't know what 3 Mr. Cutler was thinking. I don't remember 4 talking to Mr. Cutler about it. 5 Q. Okay. Well, I'm asking what 6 you understood about Mr. Cutler's words here. 7 Did you understand that 8 Mr. Cutler was just referring to the somewhat 9 lengthy and difficult settlement process with 10 Mr. Epstein? 11 A. I didn'