JPMorgan reaches settlement with Jeffrey Epstein victims
Jack Birle
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JPMorgan Chase announced Monday that it had reached a settlement in a class action lawsuit filed by victims of disgraced financier Jeffrey Epstein.
The terms of the deal were not disclosed, but both parties say the agreement in principle is set to resolve the suit filed in the U.S. District Court for the Southern District of New York.
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“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 statement, per the Associated Press.
“Any association with him was a mistake and we regret it,” the statement read. “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.”
In 2019, Epstein was found dead in his jail cell as he was awaiting trial in New York for charges of human trafficking and sexual abuse of minors.
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The lawsuit filed in November accused JPMorgan of “financially benefiting from participating in Jeffrey Epstein’s sex trafficking by providing the requisite financial support for the continued operation of Epstein’s international sex trafficking organization from 1998 through August 2013.”
JPMorgan continues to face a lawsuit from the government of the U.S. Virgin Islands, which accuses the financial institution of turning a “blind eye” and aiding in the “concealment” of Epstein’s sex trafficking crime. The suit was filed in the U.S. District Court for the Southern District of New York in December 2022.