US President Donald Trump has sued the giant bank JPMorgan Chase and its chief executive Jamie Dimon, demanding that they pay him $5 billion for depriving him and his business entities of their services for political reasons after he left the White House in January 2021.
The lawsuit, filed in Miami-Dade County, Florida, alleges that J.P. Morgan abruptly closed multiple Trump accounts and those of his organizations in February 2021 – without explanation and with only 60 days' notice.
As Trump claims, this cut off both him and his entities from access to millions of dollars, disrupting their business operations and forcing them to urgently open bank accounts elsewhere.
"J.P. Morgan deprived (Trump and his business entities) of its services because it believed that the political climate at the time allowed it to do so," the lawsuit states.
The bank said it "regrets" that Trump sued it, but said it did not close the accounts for political reasons.
"We believe the lawsuit is without merit. JPMorgan does not close accounts for political or religious reasons. We close accounts when they create legal or regulatory risk for the company," a bank spokesman said.
Bonus video:
