International

JP Morgan Agrees To $290 Million Settlement With Epstein Victims

After weeks of revelations regarding its relationship with Jeffrey Epstein, JPMorgan Chase has reached a preliminary settlement with victims of the deceased financier’s sexual abuse.

In a joint statement, the bank and lawyers for the victims confirmed the tentative agreement. David Boies, one of the lead attorneys representing the victims, stated that JPMorgan Chase is prepared to pay $290 million to resolve the lawsuit. Initially, the settlement amount was not disclosed in the joint statement, but it is expected to be included in a court filing within the coming week.

The lawsuit, filed in November 2020 in Manhattan federal court, was brought by an anonymous woman on behalf of victims who suffered sexual abuse by Epstein over a period of approximately 15 years when they were teenagers and young women. The suit indicated that the number of victims could exceed 100. Epstein died by suicide in a Manhattan jail cell in August 2019, a month after his arrest.

According to the lawsuit filed by the victims, JPMorgan Chase allegedly disregarded multiple warnings about Jeffrey Epstein’s sex trafficking of underage girls and young women, even after he had registered as a sex offender and pleaded guilty to soliciting prostitution from a teenage girl in a 2008 case in Florida. The complaint stated that the bank overlooked suspicious activities related to Epstein because it considered him a valuable client who had connections with numerous wealthy individuals.

JPMorgan Chase had been providing banking services to Epstein from approximately 1998 to 2013.

Meera Verma

Recent Posts

Punjab & Haryana HC Notice To Jindal Law School Over AI-Generated Exam Claims

The Punjab and Haryana High Court on Tuesday has issued a notice to Jindal Global…

7 hours ago

ED Files Money Laundering Complaint Against Charanjit Singh Bajaj, 4 Others

The ED on Tuesday has filed a Prosecution Complaint before the Special Court in Mohali…

8 hours ago

Pune Porsche Case: SC Rejects Anticipatory Bail To Father Of Minor Driver’s Friend

The Supreme Court on Tuesday denied bail to Arunkumar Devnath Singh, whose son is a…

9 hours ago

SC Dumps Plea Against Quashing LOC For Sushant Singh Rajput’s Ex-House Help

The Supreme Court on Tuesday dismissed the Centre's appeal against a Bombay High Court order…

9 hours ago

Rape Case: SC Issues Notice On Ex-Army Officer’s Plea For Quashing Charge sheet

The Supreme Court on Tuesday has agreed to review a plea from retired Army Captain…

10 hours ago

Chhattisgarh NAN Scam: FIR Against 2 Retired IAS Officers, Former AG

The Chhattisgarh Anti-Corruption Bureau on Tuesday has registered a case against 2 retired IAS officers…

10 hours ago