Washington. America’s JPMorgan bank admitted for the first time that it had frozen President Donald Trump’s personal and several business bank accounts amid political and legal fallout following the attacks on the US Capitol on January 06, 2021. This is the biggest confession in this legal battle.
According to the report of American news channel CNBC, this has come to light in the affidavit submitted in the court this week in Trump’s lawsuit against the bank and its CEO Jamie Dimon. President Trump has sued the bank for five billion US dollars (about Rs 45,363.43 crore in Indian currency). It has been alleged that their accounts were closed for political reasons. This hindered his business.
“In February 2021, JPMorgan informed the plaintiffs that certain accounts held at JPMorgan’s CB and PB would be closed,” Dan Wilkening, former chief administrative officer of JPMorgan Bank, wrote in the affidavit. It is noteworthy that PB and CB stand for JP Morgan’s private bank and commercial bank. JPMorgan had never previously admitted that it had closed the President’s accounts.
Trump initially sued JPMorgan in Florida state court. The bank has requested the court to transfer the case to New York. Trump has accused the bank of business defamation. Trump’s lawyers allege that JP Morgan blacklisted the President and his companies.
“One important thing is that the bank has admitted that it unlawfully and knowingly closed the accounts,” the lawyers said in the statement. The Trump Organization had sued credit card giant Capital One in March 2025 for similar reasons and allegations. This case has not been settled yet.
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