Tuesday, June 13, 2023

JPMorgan agreed to pay $290 million to the Epstein victims

 After weeks of embarrassing disclosures about the bank's long-standing relationship with the late financier Jeffrey Epstein, JPMorgan Chase and the victims' lawyers said in a statement on Monday that they had reached a tentative settlement with them.

One of the victims' lead attorneys, David Boies, stated that the bank was willing to pay $290 million to settle the lawsuit. The gatherings at first had made a deal to avoid uncovering the settlement sum in their joint proclamation, as it was set to be remembered for a court recording inside the following week. According to the suit, the proposed settlement would resolve a lawsuit that was filed in November of last year in Manhattan federal court on behalf of victims who were sexually abused by Epstein over a roughly 15-year period when they were teenage girls and young women. The suit was filed by an unidentified woman. The quantity of casualties might actually ascend to more than 100. A month after his arrest, Epstein committed suicide in a Manhattan jail cell in August 2019.

Even after Epstein registered as a sex offender and pleaded guilty in a 2008 Florida case to soliciting prostitution from a teenage girl, the victims' lawsuit claimed that JPMorgan ignored repeated warnings that Epstein had been trafficking teenage girls and young women for sex. According to the complaint, Epstein's activity was overlooked by the bank because it valued him as a wealthy client with access to dozens of even wealthier individuals. JPMorgan had given financial administrations to Epstein from around 1998 to 2013.

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