On Monday, JPMorgan Chase Bank announced that it has reached a settlement of $290 million in a class action lawsuit involving victims of Jeffrey Epstein.
While specific details of the settlement have not been disclosed, reports suggest that approximately 100 individuals may receive compensation as part of the lawsuit.
JPMorgan has faced ongoing litigation for several months, with allegations that the bank continued to provide services to Epstein despite being aware of his involvement in sex crimes.
According to reports, a joint statement from JPMorgan and the attorneys representing the victims stated that the settlement is in the best interests of all parties, particularly the survivors who suffered from Epstein’s abhorrent abuse.
It appears that JPMorgan is desperate to make this lawsuit go away.
Daily Mail reported:
David Boies, an attorney acting on behalf of Epstein victims, said: ‘The historic recoveries from the banks who provided financial services to Jeffrey Epstein, speak for themselves.
‘It has taken a long time, too long, but today is a great day for Jeffrey Epstein survivors, and a great day for justice.’
Sigrid McCawley, another of the victims’ lawyers, said: ‘The settlements that have been reached are both life-changing and historic for the survivors.
‘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.
‘The settlements signal that financial institutions have an important role to play in spotting and shutting down sex trafficking’.
Brad Edwards, an attorney representing the Jane Doe who launched the case, said: ‘The information and support the US Virgin Islands and its legal team provided to the survivors was enormously valuable, and we recognize the importance of the government’s continued litigation against JPMorgan Chase to prevent future crimes.’
“We all now understand that Epstein’s behavior was monstrous. Any association with him was a mistake and we regret it. 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,” JPMorgan claimed in a statement.
JPMorgan CEO Jamie Dimon denied having any knowledge of Jeffrey Epstein’s accounts within the bank.
Press release from JP Morgan Chase:
The parties in Jane Doe 1 v. JPMorgan Chase Bank, N.A. have informed the Court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes, which is subject to court approval.
Litigation is still pending between the US Virgin Islands and JPMorgan Chase, as are JPMorgan Chase’s claims against Jes Staley.
The parties believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse.
