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From the Liveblog of
Tuesday, September 26, 2023
From the Liveblog of
Tuesday, September 26, 2023
JPMorgan to pay $75 million on claims that it enabled Jeffrey Epstein sex trafficking
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Jeffrey Epstein, on March 28, 2017. (New York State Sex Offender Registry via AP, File)
JPMorgan Chase has agreed to pay $75 million to the US Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by financier Jeffrey Epstein.
JPMorgan says that $55 million of the settlement will go toward local charities and assistance for victims. Another $20 million will go toward legal fees.
The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation had revealed that the financial services giant enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise.”
Epstein died by suicide in a federal jail in 2019.
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