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HomeLatest NewsJPMorgan to Pay $290 Million to Victims of Disgraced Financier Epstein

JPMorgan to Pay $290 Million to Victims of Disgraced Financier Epstein

Date: April 24, 2024 Time: 09:10:06

The victims accused the bank of allowing the late financier to enable sex trafficking while he was a customer.

In a joint statement, the largest bank in the United States and lawyers for the victims said: “They have notified the court that they have reached an agreement in principle to resolve a class action lawsuit related to the crimes of Jeffrey Epstein.” The agreement is subject to court approval. Under the terms of the agreement, once approved, the bank will issue a statement deploring its association with Epstein, Boyce said.

The bank and lawyers for the victims said the settlement was in the best interests of all parties, “especially for the survivors who were victims of Epstein’s horrific violence.” It is not yet clear how many people will ultimately receive compensation, but more than 100 women are expected to apply. Lawyers representing the victims issued a statement of their own, calling the settlement “life-changing and historic.” Epstein’s victims had previously settled with Deutsche Bank, whose clients he was in a $75 million settlement. According to Boyce, many of the victims appear in the arrangements with both banks.

Epstein was arrested in 2019 on charges of child sex trafficking. He died in prison shortly after his arrest. Authorities ruled his death a suicide. Epstein faced criminal charges of sexual harassment long before his arrest in 2019: He pleaded guilty to two state prostitution charges in 2008 and served just 13 months in prison. He also registered as a sex offender and paid restitution to victims identified by the FBI.

In an eight-hour deposition last month in the case, JPMorgan Chase CEO Jamie Dimon testified under oath that he had never met in person or spoken with Epstein by phone and was unaware of the communications bank’s assessment of the account. of the client and his criminal history. case. The victims did not believe this information and demanded that the bank’s board of directors fire Dimon.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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