Home » Crimes, Immorality, Justice, North America » JPMorgan Will Pay $75 Million To Settle Lawsuit Over Alleged Jeffrey Epstein Ties

JPMorgan Will Pay $75 Million To Settle Lawsuit Over Alleged Jeffrey Epstein Ties

Posted by EU Times on Sep 29th, 2023 // No Comment

73847021 12562393 Jeffrey Epstein is seen with his accomplice Ghislaine Maxwell in a 22 1695742254209

JPMorgan Chase has agreed to a $75 million settlement with the US Virgin Islands, resolving a lawsuit over its relationship with convicted sex offender Jeffrey Epstein. Additionally, the bank settled separate claims against former executive Jes Staley.

The settlement, confirmed by JPMorgan in a statement to DailyMail.com, includes contributions to combat sex trafficking and funding for law enforcement. The USVI had sued the bank for at least $190 million, alleging that it ignored warning signs about Epstein due to his wealth.

This settlement marks the conclusion of a major legal case linked to Epstein’s exploitation of women and girls. JPMorgan previously agreed to a $290 million settlement with Epstein’s victims in June.

Leon Black, co-founder of Apollo Global Management, also paid $62.5 million to the US Virgin Islands in July to avoid legal claims related to Epstein.

The settlement comes as a relief for JPMorgan CEO Jamie Dimon, who testified that he had minimal knowledge of Epstein before his arrest in 2019. Epstein died in jail while awaiting trial on federal sex trafficking charges.

JPMorgan expressed regret over its association with Epstein and emphasized its commitment to combatting human trafficking. USVI Attorney General Ariel Smith hailed the settlement as a victory for survivors and enforcement efforts.

The bank also reached a confidential settlement with former executive Jes Staley, who was accused of concealing knowledge of Epstein’s crimes. Staley denied knowing about Epstein’s activities and expressed regret over their friendship.

The lawsuit revealed shortcomings in JPMorgan’s oversight of clients, with employees reportedly urging the bank to cut ties with Epstein. The bank argued that USVI shared responsibility for enabling Epstein’s crimes.

Epstein’s activities have resulted in settlements with other financial institutions, including Deutsche Bank, which reached a $75 million settlement with his victims in May.

With this settlement, the final major legal case stemming from Epstein’s crimes has concluded, providing some closure for survivors and bringing an end to a troubling chapter in financial institutions’ dealings with the disgraced financier.

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Read More Stories About: Bank, Ghislaine Maxwell, Jeffrey Epstein, Jes Staley, JPMorgan Chase, Lawsuit, US Virgin Islands

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