JPM - JPMorgan Settles Jeffrey Epstein Lawsuit With US Virgin Islands For $75M | Benzinga
JPMorgan Chase (NYSE: JPM) has reached a $75 million settlement with the U.S. Virgin Islands to resolve allegations that the bank aided Jeffrey Epstein's sex trafficking activities.
This settlement comes ahead of the scheduled trial in Manhattan and follows nearly a year of legal battles.
Epstein, a convicted sex offender, maintained dozens of accounts at JPMorgan's private bank and regularly communicated with top bank executives.
Both sides argued that the other failed to identify Epstein's alleged crimes and turned a blind eye to his actions, the Wall Street Journal reports.
In 2019, JPMorgan reviewed its connections with Jeffrey Epstein and discovered that Epstein had provided frequent business advice to Jes Staley, a former JPMorgan executive.
Sergey Brin, who co-founded Alphabet Inc (NASDAQ: GOOG) ...