JPMorgan Chase agreed on Tuesday to pay the US Virgin Islands $75 million to settle a lawsuit alleging the Wall Street behemoth enabled Jeffrey Epstein’s sex-trafficking ring by ignoring red flags related to Epstein’s accounts at the investment bank.
The settlement comes just one month before JPMorgan and the USVI were set to go to trial in Manhattan over the bank’s ties to Epstein, which CEO Jamie Dimon reportedly claimed in two-day deposition in May he knew nothing about until the sex offender’s 2019 arrest.
JPMorgan didn’t admit to any wrongdoing as part of the agreement, which will see $30 million contributed to USVI-based charitable organizations and $25 million paid to enhance the USVI’s infrastructure and law enforcement.
JPMorgan to pay $75M to settle Epstein suits with US Virgin Islands
Epstein Island by Navin75 is licensed under Flickr
Epstein Island by Navin75 is licensed under Flickr
Source:
New York Post
