The IRS has sued the FDIC to determine the amount it must pay to cover Silicon Valley Bank's $1.45 billion tax debt after the bank's collapse in March 2023. The FDIC, acting as the bank's receiver, has denied the tax claim, leading to a legal dispute. Additionally, SVB Financial, the bank's former parent company, has also sued the FDIC over the seizure of $1.93 billion in cash, arguing that the FDIC should repay the funds.
As government attorneys investigate Jeffrey Epstein's finances and sex trafficking ring, they are focusing on other high-wealth individuals with whom Epstein may have done business. One of the most closely watched cases is the U.S. Virgin Islands' lawsuit against JPMorgan Chase, Epstein's bank of 15 years, alleging that the institution profited from keeping Epstein as a client and was complicit in funding his long history of abuse and child sex trafficking. Elon Musk, Larry Page, Sergey Brin, and Bill Gates have been subpoenaed for records of communications with Epstein and JPMorgan. Jes Staley, former executive of JPMorgan and current subject of a lawsuit from the bank, is facing allegations of sexual encounters with Epstein's trafficking victims.
