The financial institution was accused of facilitating the infamous pedophile’s sex-trafficking operation
JPMorgan Chase introduced on Monday that it had reached a settlement with certainly one of Jeffrey Epstein’s victims, who had accused the financial institution of cashing in on his sex-trafficking operation and permitting him to make funds to his victims.
“The events consider this settlement is in one of the best pursuits of all events, particularly the survivors who had been the victims of Epstein’s horrible abuse,” the US financial institution mentioned in a press release, with out disclosing how a lot cash it had agreed to pay out.
The lawsuit was introduced by an nameless girl who claims she was sexually abused by Epstein between 2006 and 2013. Epstein was a shopper of JPMorgan between 1998 and 2013, and the plaintiff claimed that the financial institution had turned a blind eye to payoffs he had made to alleged abuse victims, and had allowed him to proceed utilizing its providers regardless of a number of warnings from staff following his little one intercourse abuse conviction in 2008.
The settlement was reached lower than per week after the girl’s attorneys known as for additional testimony from JPMorgan CEO Jamie Dimon. A number of days earlier, Dimon testified that he had barely identified Epstein earlier than his 2019 arrest. Nonetheless, former JPMorgan govt Jes Staley instructed the New York courtroom that he and Dimon had held a number of conversations about Epstein and his legal report in 2012.
JPMorgan ultimately closed Epstein’s accounts in 2013, after which the convicted pedophile took his enterprise to Deutsche Financial institution. Final month, Deutsche settled a lawsuit with Epstein’s accusers for $75 million, and mentioned that it had strengthened its compliance and safety insurance policies in response.
The US Virgin Islands additionally introduced the same lawsuit in opposition to JPMorgan final yr, alleging that the financial institution had enabled his crimes. Based on the go well with, the financial institution’s prime executives had usually joked about Epstein and his fondness for younger women, regardless of compliance staffers repeatedly making an attempt to have his account classed as “excessive danger” and urging administration to chop ties with the intercourse offender.
The Virgin Islands, the place Epstein’s non-public island of Little Saint James is positioned, argued that the federal government might have been tipped off to Epstein’s crimes earlier if JPMorgan had correctly reported suspicious transactions on his account. These transactions included a cost of $600,000 to move a 14-year-old woman to the US from Europe, whom executives described as his “assistant or younger woman he introduced over from Prague (or some place like that).”
Epstein was arrested in 2019 and charged with the trafficking of dozens of underage women, however was discovered lifeless in his Manhattan jail cell earlier than he might be delivered to trial. His loss of life was dominated a suicide, though this official clarification was met with skepticism by some resulting from his shut ties to rich and highly effective figures, together with former US President Invoice Clinton, present CIA Director William Burns, and Britain’s Prince Andrew.
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