JPMorgan to Pay $290 Million in Epstein Settlement

NEW YORK, NEW YORK - MAY 26: The JPMorgan Chase logo is seen at their headquarters building on May 26, 2023 in New York City. JPMorgan Chase chief executive Jamie Dimon is set to be deposed under oath for two civil lawsuits that claim that the bank ignored warnings that Jeffrey Epstein was trafficking teenage girls for sex while profiting from his relationship with him. The lawsuits were filed in federal court late last year by lawyers representing Epstein's victims and the other by the government of the U.S. Virgin Islands. Epstein died by suicide three years ago while in federal custody on sex trafficking charges. The bank states that he was dropped as a client decades ago. (Photo by Michael M. Santiago/Getty Images)
The JPMorgan Chase logo is seen at their headquarters building on May 26, 2023 in New York City. J (Photo by Michael M. Santiago/Getty Images)

OAN’s Taylor Tinsley
1:40 PM – Friday, June 23, 2023

Victims of Jeffrey Epstein have asked a federal judge to approve a $290 Million settlement agreement from JPMorgan Chase. They accused the company of benefiting from Epstein and turning a blind eye to his abuses.

Advertisement

In a federal court filing in Manhattan on Thursday, lawyers said the proposed settlement was “fair, adequate, reasonable” and in the best interests of the victims. The number of women is not specified, but the settlement involves women who were either sexually abused or trafficked by Epstein from 1998 to 2019. Epstein was a JPMorgan client from 1998 to 2013.

The settlement is the result of a multi-year investigation which initially kicked off in 2021. The Lead Plaintiff’s counsel filed an individual and class action complaint in November 2022, which was later amended in January 2023.

“The operative Complaint alleges that Jeffrey Epstein’s sex trafficking venture was facilitated and enabled by Defendant (JPMorgan) helping Epstein avoid regulators’ scrutiny and providing Epstein with withdrawal and wire services, all so Defendant could profit from Epstein and his associates,” the filing notes.

It also stated that JPMorgan denies all of the Lead Plaintiff’s allegations.

“Defendant denies that JPMorgan participated in the Epstein sex trafficking venture. Defendant further denies that its conduct supported Epstein’s sex trafficking venture or prevented law enforcement from apprehending Epstein sooner than it ultimately did. Defendant contests Lead Plaintiff’s allegations that Defendant has liability under the Trafficking Victims Protection Act (“TVPA”) or under New York law.”

Meanwhile, despite denying such claims, JPMorgan released a statement earlier this month saying any association with Epstein “was a mistake and we regret it.”

“We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man,” the company added.

Epstein was arrested on federal charges in 2019, and was found dead in his jail cell from apparent suicide not long after. 

Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts