JPMorgan to pay $75 million on claims that it enabled Jeffrey Epstein’s sex trafficking operations
FILE - The logo of JPMorgan bank is pictured at the new French headquarters of JP Morgan bank, Tuesday, June 29, 2021, in Paris. JPMorgan Chase is defending itself against a lawsuit by the U.S. Virgin Islands accusing it of empowering Jeffrey Epstein to abuse teenage girls. Lawyers for the giant bank said in court papers Tuesday, May 23, 2023, that it was the islands that enabled the financier to commit his crimes. (AP Photo/Michel Euler, Pool, File)
NEW YORK (AP) — JPMorgan Chase has agreed to pay $75 million to the U.S. Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by financier Jeffrey Epstein.
JPMorgan said Tuesday that $55 million of the settlement will go toward local charities and assistance for victims. Another $20 million will go toward legal fees.
The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation has revealed that the financial services giant enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise.”
Epstein died by suicide in a federal jail in 2019.
News at your fingertips! Stay informed with Indiana, Local, and National News straight to your inbox.