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Key Takeaways
- JPMorgan Chase has agreed to pay $75 million to the US Virgin Islands to settle the suit against them in relation to Jeffrey Epstein
- The charges laid against them suggested that they had facilitated Epstein’s actions through offering him banking services, where he was a client from 1998 to 2013
- JPMorgan Chase has already paid out $290 million this year to Epstein’s victims, in a class action civil suit that was filed along similar lines
JPMorgan Chase has agreed to a settlement with the authorities in the US Virgin Islands, relating to their work with Jeffrey Epstein who was a client of the bank from 1998 to 2013. Epstein owned property in the country, and it had been alleged that this property had been used for abuse.
Prosecutors for the US Virgin Islands had leveled accusations at the bank that their relationship with Epstein had involved failures in their client risk management protocols, and had effectively enabled sex trafficking offenses.
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