JPMorgan Chase has reached a tentative settlement of $290 million with victims of Jeffrey Epstein, resolving one of two lawsuits accusing the bank of disregarding warnings about its client and aiding his alleged sex trafficking activities.
The settlement follows questioning of JPMorgan CEO Jamie Dimon and former deputy Jes Staley regarding the bank’s dealings with Epstein. The lawsuit, filed last year, was brought by a woman listed as Jane Doe, who claimed she was sexually abused by Epstein and that he used funds held at JPMorgan to pay her and other victims. The suit sought class-action status on behalf of numerous alleged victims.
While JPMorgan agreed to pay $290 million, the settlement terms still need approval from a Manhattan federal judge, and the bank has not admitted any liability as part of the agreement.
A spokesperson for JPMorgan stated that Epstein’s behavior was monstrous, and the settlement serves the best interest of all parties, particularly the survivors who endured unimaginable abuse. The exact number of victims covered by this settlement remains undisclosed as per the bank’s request.
The JP Morgan sex trafficking settlement does not resolve all legal issues for JPMorgan concerning Epstein. The bank is still facing a lawsuit from the government of the US Virgin Islands, alleging that it facilitated Epstein’s sex trafficking activities.
Additionally, JPMorgan is suing its former executive Jes Staley, who had a relationship with Epstein while overseeing the bank’s asset-management unit. The bank accuses Staley of misleading executives about Epstein, while Staley denies the allegations, claiming no knowledge of Epstein’s crimes.
It is noteworthy that Deutsche Bank recently settled a lawsuit with Epstein’s victims for $75 million. After JPMorgan terminated its relationship with Epstein, Deutsche Bank became his client in 2013.
Jeffrey Epstein, who previously pleaded guilty to soliciting a minor for prostitution, was arrested in 2019 on child sex trafficking charges and died in prison under suspicious circumstances.
As JPMorgan resolves one aspect of its involvement with Epstein, it is crucial to continue the fight for justice. Individuals seeking legal assistance to file a lawsuit and pursue monetary compensation against professionals and companies that turn a blind eye to human trafficking are encouraged to contact the Women’s Rights Group. We offer a free consultation to provide support in seeking justice for survivors.
