Jamie Dimon built JPMorgan Chase into the most powerful bank in America.
But one decision came back to haunt him in the worst way possible.
And Jamie Dimon was forced into damage control after this ugly truth came out.
JPMorgan Chase helped the Biden administration weaponize banking against conservatives, and CEO Jamie Dimon just got caught trying to cover it up.
The billionaire banker found himself on Fox News desperately trying to explain why his institution cooperated with Special Counsel Jack Smith's partisan witch hunt targeting Trump allies.
Trump Media CEO Devin Nunes exposed the whole scheme last month when he revealed JPMorgan turned over the company's banking records to Jack Smith as part of the so-called "Arctic Frost" investigation.
Here's what makes this explosive: Trump Media didn't even exist when the events Smith was supposedly investigating took place.
"We just became a public company in 2024, and we were nowhere around in 2021 on January 6th," Nunes told Fox News host Maria Bartiromo. "So why would Trump Media be subpoenaed at that time during this investigation? It doesn't make any sense."¹
JPMorgan caught coordinating with Biden's Justice Department
The timing reveals JPMorgan's true motives.
Right as Trump Media was preparing to go public in early 2024 — with $250 million ready to deposit and zero debt — JPMorgan suddenly "debanked" the company.
Florida Attorney General James Uthmeier smelled a rat and launched an investigation into JPMorgan's coordination with the Biden Justice Department.
The subpoena Smith issued to JPMorgan demanded "any and all records" for Trump Media covering September 2020 through October 2021 — before the company even existed.²
Smith's team wanted everything: checking accounts, wire transfers, loan documents, even deleted files and encryption keys.
Senate Judiciary Committee records show Smith's Arctic Frost operation issued 197 subpoenas covering at least 430 individuals and entities connected to Trump.
JPMorgan complied with every single request targeting Trump allies without question.
Dimon's pathetic "people have to grow up" defense falls flat
When Bartiromo confronted Dimon about Nunes's allegations, the JPMorgan CEO got defensive real quick.
"People have to grow up here, okay? And stop making up things and stuff like that," Dimon snapped. "I can't talk about an individual account. We do not de-bank people for religious or political affiliations."³
That's rich coming from the guy whose bank handed over financial records to Biden prosecutors targeting Trump's company.
Dimon tried claiming JPMorgan only turns over records when legally compelled by court subpoena.
"We don't give information to the government just because they ask. We're subpoenaed. We're required by court to give it to the government," Dimon insisted.⁴
But here's the problem with that excuse: JPMorgan never notified Trump Media they'd been subpoenaed.
The company only found out months later that their bank handed over sensitive financial information to prosecutors going after Trump.
Dimon then pivoted to blaming "both sides" for pressuring banks.
"Democratic and Republican governments have come after us both. So let's not act like this is just one side doing this," he said.
Except only one administration weaponized the Justice Department to spy on 430 Trump-linked individuals and organizations as part of a coordinated political persecution campaign.
JPMorgan didn't debank Jeffrey Epstein despite mountains of evidence he ran a sex trafficking operation.⁵
The bank kept Epstein as a client from 1998 to 2013 and processed over $1 billion in transactions for him — even after he was convicted of soliciting prostitution from a minor in 2008.
JPMorgan only cut ties with Epstein in 2013, and later paid $365 million to settle lawsuits from his victims and the U.S. Virgin Islands for enabling his crimes.⁶
Yet they shut down Trump Media's accounts the second Biden's DOJ came calling.
The math isn't complicated.
Florida's investigation could expose just how deep the coordination went between big banks and Biden's weaponized Justice Department to financially strangle Trump's allies.
Uthmeier isn't backing down despite Dimon's attempt to play victim.
He ordered JPMorgan to preserve all documents related to Trump Media and warned the bank his Office of Statewide Prosecution and Enforcement Division was investigating immediately.
A source familiar with the Florida investigation told Fox News the evidence against Chase is "damning."⁷
Dimon can whine all he wants about people needing to "grow up."
The receipts show JPMorgan helped Jack Smith target Trump's company while Trump Media posed zero threat to anyone.
That's not banking. That's political warfare using financial institutions as weapons.
And Jamie Dimon just got caught holding the smoking gun.
¹ Devin Nunes, interview with Maria Bartiromo, Fox News Sunday Morning Futures, November 9, 2025.
² Senate Judiciary Committee records, "Arctic Frost Investigation," October 2025.
³ Jamie Dimon, interview with Maria Bartiromo, Fox Business Sunday Morning Futures, December 7, 2025.
⁴ Ibid.
⁵ NPR, "JPMorgan Chase and Epstein survivor Jane Doe 1 reach $290 million settlement," June 12, 2023.
⁶ NBC News, "JPMorgan to pay $75 million to settle lawsuit over ties with Jeffrey Epstein," September 26, 2023.
⁷ Fox Business, "Florida AG probes JPMorgan Chase over alleged de-banking of Trump Media," November 10, 2025.