Washington, 22 February (H.S.):

In a stunning courtroom revelation this week, JPMorgan Chase, America's largest bank, has for the first time conceded that it terminated President Donald Trump's personal and multiple business bank accounts following the violent assault on the U.S. Capitol on January 6, 2021, amid ensuing political and legal repercussions.

The disclosure emerged in an affidavit filed this week in response to a $5 billion lawsuit (approximately ₹45,363.43 crore) initiated by President Trump against the bank and its CEO Jamie Dimon, as reported by CNBC.

Trump alleges the closures were politically motivated, severely disrupting his business operations across hotels, real estate, and retail ventures. Initially filed in Florida state court last month, JPMorgan is seeking to transfer the case to New York federal court, where Trump's accounts were primarily held.

Dan Wilkening, JPMorgan's former chief administrative officer, stated in the affidavit: In February 2021, JPMorgan informed Plaintiffs that certain accounts maintained with JPMorgan's CB and PB would be closed.Here, CB denotes Commercial Banking and PB refers to Private Banking divisions.

Formal letters dated February 19, 2021, were sent to Trump and the Trump Organization, though they cited no explicit reasons beyond potential legal or regulatory risks.

Trump's attorneys accuse JPMorgan of unlawfully blacklisting the president and his companies due to political discrimination, marking this as the bank's first written admission of the closures post-January 6 events.They highlighted that Trump had banked with JPMorgan for decades, transacting hundreds of millions of dollars.

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Hindusthan Samachar / Jun Sarkar