Trump Sues JPMorgan for $5B, Alleging Politically Motivated Account Closures
Donald Trump has filed a lawsuit against JPMorgan Chase, seeking $5 billion in damages. He alleges that the banking giant unlawfully closed his accounts due to political motivations.
Background of the Lawsuit
The lawsuit was initiated in Miami-Dade County court, following account closures that occurred in February 2021. Trump claims that these closures took place shortly after he left office in January of the same year.
Details of the Allegations
- Trump asserts that JPMorgan closed multiple accounts with only 60 days’ notice.
- The bank allegedly provided no explanation for these actions.
- Trump contends that the closures disrupted his business operations and cut access to millions of dollars.
According to the lawsuit, JPMorgan’s decision was influenced by shifting political sentiments at the time. Trump alleges that the bank acted out of a belief that doing so was politically advantageous.
JPMorgan’s Response
In response to the lawsuit, JPMorgan issued a statement expressing regret over Trump’s decision to sue. The bank emphasized that the closures were not politically motivated.
Key Points from JPMorgan’s Statement
- The bank maintains that it does not close accounts based on political or religious factors.
- JPMorgan asserts that account closures occur due to legal or regulatory risks associated with the accounts.
- The bank believes the lawsuit lacks merit and intends to contest the claims vigorously.
This legal battle highlights ongoing tensions between Trump and financial institutions, reflecting the broader impact of politics on business operations. Filmogaz.com will continue to monitor the developments of this high-stakes case.
