On Tuesday (September 26), JPMorgan Chase agreed to pay the U.S. Virgin Islands $75 million to settle a lawsuit alleging they turned a blind eye and enabled Jeffrey Epstein‘s alleged sex trafficking acts. With the funds to be paid, Epstein’s victims and local charities in the Virgin Islands will benefit.
RELATED: Jeffrey Epstein’s ‘Pedophile Island’ Going On The Market For A Reported $125M
The settlement — which accused the big bank firm of neglecting to raise any red flags related to Epstein using accounts with the bank during the alleged trafficking acts — arrives just one month before JPMorgan and the USVI were due to begin trial in Manhattan over the bank’s ties to Epstein.
The Virgin Islands, where Epstein had an estate, sued JPMorgan last year for allegedly allowing Epstein and his recruiters to pay victims from accounts with them. The lawsuit said JPMorgan Chase was “indispensable to the operation and concealment of the Epstein trafficking enterprise.” The suit said the bank and its regulators should have alerted authorities of him being a “high-risk” customer who had been making repeated large cash withdrawals.
CEO Jamie Dimon reportedly admitted he had no clue about any of Epstein’s alleged criminal activities until the convicted sex offender was arrested in 2019 on charges related to alleged sex crimes involving minors. Following Epstein’s arrest, he was found dead in his federal jail cell; his death was ruled a suicide.
Since Epstein’s 2019 arrest, JPMorgan has never admitted to any wrongdoing, and even with their agreement with the USVI, they have yet to take any culpability for Epstein’s alleged sex trafficking acts. Meanwhile, from the $75 million settlement, $30 million will go towards USVI-based charitable organizations and assistance for victims; and $25 million will be used to upgrade the USVI’s infrastructure and law enforcement.
Additionally, JPMorgan will fork over an additional $20 million to cover all attorneys’ fees. Previously in June, JPMorgan Chase agreed to pay $290 million to settle a class action lawsuit with Epstein’s victims.
Also, the bank noted that it reached a confidential legal settlement with James “Jes” Staley, the former top JPMorgan executive who managed the Epstein account before leaving the bank. Earlier this year, the bank sued him, alleging he covered up or minimized Epstein’s actions in order to keep him as a big fish customer.
RELATED: Jeffrey Epstein Reportedly Planned To Expose Bill Gates’ Alleged Affair
#Socialites, be sure to check out the post below, then leave us your thoughts in a comment after!
View this post on Instagram