1 year ago
JPMorgan Chase will pay $75 million to settle claims brought by the U.S. Virgin Islands relating to the bank’s dealings with deceased financier and sex criminal Jeffrey Epstein.
“While the settlement does not involve admissions of liability, the firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes,” JPMorgan said in a press release announcing the deal.
The settlement includes $30 million to support charitable organizations in the U.S. Virgin Islands, $25 million to support law enforcement efforts to combat human trafficking in the territory as well as $20 million in attorneys’ fees.
The bank has also reached an agreement to settle claims against former JPMorgan executive Jes Staley, who later left the bank to become CEO of Barclay’s before resigning from his position in 2021. He was accused of shielding Epstein from losing access to his accounts.
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