JPMorgan to pay $75 million on claims that it enabled Jeffrey Epstein’s sex trafficking operations
Sep 26, 2023, 11:50 AM | Updated: 11:53 am
FILE — This March 28, 2017 photo, provided by the New York State Sex Offender Registry, shows Jeffrey Epstein. The Justice Department’s watchdog said Tuesday that “a combination of negligence and misconduct” enabled Jeffrey Epstein to take his own life at a federal jail in New York City. (New York State Sex Offender Registry via AP, File)
Credit: ASSOCIATED PRESS
(New York State Sex Offender Registry via AP, 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.
