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JPMorgan Chase Settles Jeffrey Epstein Lawsuit with U.S. Virgin Islands for $75 Million

HeadlineSep 27, 2023

JPMorgan Chase has agreed to a $75 million settlement with the U.S. Virgin Islands in a lawsuit over the bank’s role in financing Jeffrey Epstein’s sex and human trafficking empire. Epstein owned two private islands in the Virgin Islands. JPMorgan did not accept any liability in the settlement, which will be split between legal fees and funding efforts to combat human trafficking.

The suit, filed last December by former U.S. Virgin Islands Attorney General Denise George, also accused JPMorgan of profiting from Epstein’s operations and failing to report suspicious activity. George was fired soon after she launched the lawsuit. She had recently secured a $105 million settlement from Epstein’s estate.

This comes after JPMorgan Chase in June agreed to pay $290 million to settle another lawsuit brought by Epstein survivors, who said the bank ignored warnings about Epstein’s abuses for years because he was bringing in wealthy clients.

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