A top lawyer at JPMorgan Chase, Blake Grossman, has resigned following renewed scrutiny over his past professional relationship with Jeffrey Epstein, according to sources within the firm. Grossman’s departure comes as unsealed court documents continue to reveal the extent of Epstein’s financial ties to Wall Street institutions and prominent figures.
The resignation, confirmed internally on Friday, follows the release of records stemming from a lawsuit brought by the U.S. Virgin Islands against JPMorgan Chase. These documents, containing over 18,000 messages, detail Epstein’s continued access to investment opportunities and high-net-worth individuals even after his 2008 guilty plea on sex-related charges. Grossman, as a partner at the firm, had previously advised Epstein on financial matters.
Even as JPMorgan Chase has not directly commented on the specific connection between Grossman’s resignation and the Epstein revelations, the timing has fueled speculation. The bank is currently facing legal challenges related to its alleged facilitation of Epstein’s sex trafficking operation, with the U.S. Virgin Islands seeking damages for the harm caused by Epstein’s crimes. The unsealed records include communications showing Epstein invested $1 million in Renaissance Technologies, a highly secretive hedge fund, shortly after being charged with sex trafficking offenses.
The newly surfaced emails also highlight the role of other Wall Street professionals in assisting Epstein. Greg Hersch, a former wealth manager at Smith Barney (owned by Citigroup), urged Epstein to invest in Renaissance in August 2006, despite contemporaneous media coverage of the allegations against him. Hersch reportedly wrote, “I feel it would be a mistake to not make this investment,” and Epstein responded with a simple, “Fine.”
Epstein’s financial dealings extended beyond hedge fund investments. He maintained relationships with numerous banks and brokers, leveraging these connections to manage his wealth and access capital. The extent of these relationships, and whether they involved sufficient due diligence given the public allegations against Epstein, remains a central focus of the ongoing legal proceedings and investigations.
The unsealed documents also shed light on Epstein’s earlier career on Wall Street, including his time at Bear Stearns. His ability to retain access to financial networks and influential individuals despite his criminal history has prompted questions about ethical standards and risk management practices within the financial industry.
JPMorgan Chase has stated it is cooperating with the investigations, but has also defended its actions, asserting that it followed legal and regulatory requirements. The bank has not responded to requests for comment regarding specific individuals named in the unsealed documents beyond acknowledging its ongoing legal obligations.
The U.S. Virgin Islands lawsuit remains ongoing, with further hearings and document disclosures expected in the coming months. The Department of Justice has also indicated it is continuing to investigate potential criminal liabilities related to Epstein’s financial network.
