JPMorgan Chase announced a tentative $290 million settlement Monday with the victims of Jeffrey Epstein who had accused the bank of being the financial conduit that allowed the financier to continue operating a sex trafficking operation.
Epstein was arrested in 2019 on federal charges accusing him of paying underage girls for massages and then molesting them at his homes in Florida and New York. He was found dead in jail in August of that year, at age 66. A medical examiner ruled his death a suicide.
The lawsuit filed in Manhattan federal court in November sought to hold JPMorgan financially liable for Epstein’s decades-long abuse of teenage girls and young women. A related lawsuit has been filed in the U.S. Virgin Islands.
The proposed settlement comes roughly two weeks after JPMorgan Chase CEO Jamie Dimon testified in a deposition for the case, where he denied knowing about Epstein and his crimes until the financier was arrested in 2019, according to a transcript of the videotaped deposition released last month.
“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,” JPMorgan Chase said in a written statement early Monday.
The proposed settlement, which must still be approved by the judge in the case, totals $290 million, according to lead plaintiff attorney David Boies.
According to the lawsuits, JPMorgan provided Epstein loans and regularly allowed him to withdraw large sums of cash from 1998 through August 2013 even though it was aware of his participation in sex trafficking. The anonymous victim in the suit, referred to as Jane Doe, said she was sexually abused by Epstein from 2006 and 2013.
Also on Monday, a judge ruled in favor of making Doe’s lawsuit into a class-action lawsuit for all victims of Epstein’s sex crimes.
“Money, which for far too long flowed with impunity between Jeffrey Epstein’s global sex trafficking enterprise and Wall Street’s leading banks, is decisively being used for good,” said Sigrid McCawley, an attorney for Jane Doe and other Epstein victims, in a prepared statement. “The settlements signal that financial institutions have an important role to play in spotting and shutting down sex trafficking.”
The bank continued to count Epstein as a client despite the fact that he was arrested and pled guilty in 2008 to sex crimes in Florida.
“Any association with him was a mistake and we regret it,” the bank said in a prepared statement. “We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes.”
Both lawsuits were filed after New York state in November enacted a temporary law letting adult victims of sexual abuse to sue others for the abuse they suffered, even if the abuse occurred long ago.
Lawsuits are still pending between the U.S. Virgin Islands and JPMorgan Chase, and the bank is still pursuing its lawsuit against JPMorgan former executive Jes Staley.
The bank has denied the allegations and sued Staley, saying he hid Epstein’s crimes to keep him as a client. Staley left JPMorgan in 2013 to later become CEO of the British bank Barclays. Staley stepped down from that role in 2021 due to his prior relationship with Epstein.
Follow us on:
Former US President Donald Trump on Saturday declined a second debate with Vice President Kamala…
Munich's Mayor Dieter Reiter has officially opened Oktoberfest at noon Saturday by tapping the first…
Daniel Dubois scored an upset victory and ruined Anthony Joshua's return to London's Wembley Stadium…
Elon Musk’s social media platform, X, has named Rachel de Oliveira Conceicao as its legal…
In a surprising turn during the Edo state governorship election, Olumide Akpata, the Labour Party…
The Governor of Ondo state, Mr. Lucky Aiyedatiwa, has vowed to transform the state into…
View Comments
O7O 4540 6674 }SOME CAR LIST BELOW.
Golf 2 3 4 500k __ 700k
O7O 4540 6674 }
2003 Matrix N1m80k
2001 Honda CRV 800k
2003 Honda Element 950k
2003 Camry 990k
2006 Honda Ridgeline 2.6m
2012 Camry LE 2.750m
2013 Ford Edge SEL 3.9m
2014 Ford Edge SEL 4.3m
Fresh like toks 2013 Benz E200 N8.2m
2008 Rav4 1.9m
2014 Kia Cerato 2.9m
2011 Benz GLK350 5m
2014 Range Rover evogue 6.650m
2006 Quest 850k
2008 Kia Rio 900k
2008 Camry Xle 1.680m
O7O 4540 6674 }
TOKUNBO CARS BELOW :�
O7O 4540 6674 }
2004 Corolla Sport 1.8m
2006 Corolla Sport 1.970m
2010 Corolla Sport 2.980m
Awoof 2008 Lexus RX350 3.5m
2003 Camry XLE - Back Vent AC - V4 - 1.580m
2001 Camry N1.280m
2003 Camry N1.520m
2005 Camry LE 1.680m
2005 Matrix 1.7m
2007 Toyota Camry 2.3m
2008 Camry Sport 2.850m
O7O 4540 6674 }
2007 Rav4 Sport N2.8m
2011 Honda pilot EX 4.4m
2005 Benz E320 N2.4m
1999 Sienna 1.550m
2000 Lexus RX300 1.9m
Pegeout 407 Manual AC 800k
2008 Honda CRV EX 2.850m
2009 Corolla XLE - Alloy + Formica 2.850m
2004 Toyota LandCruiser 4.5m
2004 Corolla LE 1.8m
2010 RX350 6.1m with Mouse
2011 RX350 6.8m with mouse 6.550m
2008 Toyota Tacoma 6.8m
2006 Avalon Thumbstart 2.5m
2007 Avalon key 2.1m
2009 Pointiac Vibes 2.8m
2006 Benz E230 N2.4m
2007 Sienna CE 1.980m
2006 Sienna XLE 2.550m
2013 Corolla Sport 3.5m
2008 Camry LE 2.350m
2009 Camry LE 2.4m
2015 Lexus GX460 20.4m
2014 Lexus ES350 9.4m
2006 Corolla Manual N1.580m
2009 Acura MDX 4.6m
08 Benz C300 3.850m
07 Benz GL450 5.7m
08 Benz GL550 5.8m
2004 Rav4 1.850m
Awoof 04 Pilot N1.750m
2007 Pilot 2.4m EX
2009 Highlander sport 4.8m
2011 Highlander Limited 6.2m
2010 Rav4 EX Rev Camera + Thumbstart@ 4.3m
08 Honda Accord N2.4m
2010 Camry XLE 3.2m V4
2013 Honda Accord 4.5m
2014 Honda Accord N4.7m
2003 Matrix N1m80k
2001 Honda CRV 800k
2003 Honda Element 950k
2003 Camry 990k
2006 Honda Ridgeline 2.6m
2012 Camry LE 2.750m
2013 Ford Edge SEL 3.9m
2014 Ford Edge SEL 4.3m
Fresh like toks 2013 Benz E200 N8.2m
2008 Rav4 1.9m
2014 Kia Cerato 2.9m
2011 Benz GLK350 5m
2014 Range Rover evogue 6.650m
2006 Quest 850k
2008 Kia Rio 800k
2008 Camry Xle 1.680m
TOKUNBO CARS BELOW :�O7O 4540 6674 }!!All VEHICLES ARE HIGHLY NEGOTIABLE!!