NEW: 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.
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.
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. “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.
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.
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