CRIMINAL CAPITALI$M
JP Morgan makes huge payment to settle Jeffrey Epstein lawsuitRAW STORY
September 26, 2023
(Photo by Stephanie Keith/Getty Images)
JPMorgan Chase has reached a settlement with the U.S. Virgin Islands and a former executive in regards to lawsuits involving disgraced billionaire financier Jeffrey Epstein, The New York Times reported.
The company said the $75 million payment includes $30 million to support charitable organizations, $25 million to strengthen law enforcement to combat human trafficking, and $20 million for attorney's fees, according to Reuters.
"While the settlement does not involve admissions of liability, the firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes," JPMorgan said.
Read the full report over at The New York Times.
September 26, 2023
(Photo by Stephanie Keith/Getty Images)
JPMorgan Chase has reached a settlement with the U.S. Virgin Islands and a former executive in regards to lawsuits involving disgraced billionaire financier Jeffrey Epstein, The New York Times reported.
The company said the $75 million payment includes $30 million to support charitable organizations, $25 million to strengthen law enforcement to combat human trafficking, and $20 million for attorney's fees, according to Reuters.
"While the settlement does not involve admissions of liability, the firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes," JPMorgan said.
Read the full report over at The New York Times.
JPMorgan Chase to pay $75 mn to settle Epstein-linked sex trafficking suit
AFP
September 26, 2023
JPMorgan Chase has been criticized for not acting more quickly to end its relationship with the sexual predator Jeffrey Epstein -
JPMorgan Chase announced Tuesday that it will pay $75 million to settle a US Virgin Islands’ (USVI) lawsuit that accused the bank of facilitating Jeffrey Epstein’s sex trafficking ring.
The big US bank, which previously reached a $290 million settlement with Epstein’s victims, also announced an agreement with former JPMorgan executive Jes Staley for an undisclosed sum.
These cases together resolve the bank’s remaining litigation over its embarrassing long-running association with the late Epstein.
The agreement with the Virgin Islands came a few weeks ahead of a scheduled trial in New York.
The settlement includes $30 million to support USVI charitable organizations, $25 million to enhance USVI law enforcement to combat human trafficking and $20 million in attorneys fees.
The Virgin Islands had originally sought $190 million in damages for the bank’s role in enabling Epstein’s sex crimes, including in the Virgin Islands, where he had a residence.
The ongoing litigation has yielded myriad disclosures that have raised questions over why JPMorgan did not act more quickly to cut off Epstein after bank officials became aware of his conduct.
JPMorgan began its banking services with Epstein as early as 1998, but did not cut him off until 2013.
Plaintiffs had alleged that JPMorgan either knew or should have known from 2006 that it was supporting a sexual predator, but that the bank kept the billionaire Epstein as a client well beyond that period.
AFP
September 26, 2023
JPMorgan Chase has been criticized for not acting more quickly to end its relationship with the sexual predator Jeffrey Epstein -
JPMorgan Chase announced Tuesday that it will pay $75 million to settle a US Virgin Islands’ (USVI) lawsuit that accused the bank of facilitating Jeffrey Epstein’s sex trafficking ring.
The big US bank, which previously reached a $290 million settlement with Epstein’s victims, also announced an agreement with former JPMorgan executive Jes Staley for an undisclosed sum.
These cases together resolve the bank’s remaining litigation over its embarrassing long-running association with the late Epstein.
The agreement with the Virgin Islands came a few weeks ahead of a scheduled trial in New York.
The settlement includes $30 million to support USVI charitable organizations, $25 million to enhance USVI law enforcement to combat human trafficking and $20 million in attorneys fees.
The Virgin Islands had originally sought $190 million in damages for the bank’s role in enabling Epstein’s sex crimes, including in the Virgin Islands, where he had a residence.
The ongoing litigation has yielded myriad disclosures that have raised questions over why JPMorgan did not act more quickly to cut off Epstein after bank officials became aware of his conduct.
JPMorgan began its banking services with Epstein as early as 1998, but did not cut him off until 2013.
Plaintiffs had alleged that JPMorgan either knew or should have known from 2006 that it was supporting a sexual predator, but that the bank kept the billionaire Epstein as a client well beyond that period.
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