Epstein Victims Win Hundreds of Millions from JP Morgan Chase

Epstein Victims Win Hundreds of Millions from JP Morgan Chase

(UnitedVoice.com) – Jeffrey Epstein was awaiting trial for sex trafficking when he allegedly killed himself in August 2019, in a Manhattan jail cell. His suicide came just one month after federal authorities arrested him for the crimes. The billionaire, who had ties to former Presidents Donald Trump and Bill Clinton, allegedly trafficked underage victims to wealthy men and abused them himself.

Although Epstein died before he could go to trial, his ex-girlfriend, Ghislaine Maxwell, was convicted for her part in the trafficking ring. Epstein’s bank, JPMorgan Chase, also faced lawsuits for their part. The financial institution has now agreed to a second settlement.

Massive Settlement

On November 9, a federal judge approved a $290 million settlement between JPMorgan Chase and almost 200 of Epstein’s victims. The settlement was first reached in June after the bank released multiple files that were incredibly embarrassing. The lawsuit was originally filed in November 2022 by an unidentified woman on behalf of the victims.

The victims contended that JPMorgan Chase ignored red flags while Epstein was banking with them for more than 15 years. According to The New York Times, bank employees flagged Epstein’s activity on multiple occasions, marking it suspicious. The names of four dozen employees who reported the activity were redacted in documents, and much of the other information is under seal by the court. However, some of the documents showed that Epstein had close relationships with the top executives at the bank.

Fifteen victims wrote statements to the court supporting the $290 million settlement. One of the women said she was just 13 years old when the billionaire assaulted her and said she still suffers severe problems from the abuse, including anxiety, eating disorders, and panic attacks.

JPMorgan isn’t the only bank to reach a settlement with the victims of the abuse. Deutsche Bank also settled a similar case for $75 million. The law firms that brought the cases against the bank, Boies Schiller Flexner and Edwards Henderson Lehrman, are entitled to 30% of the profits of both banks’ settlements.

Settlement With the US Virgin Islands

In September, JPMorgan Chase agreed to settle another lawsuit related to the case. That one was brought by the US Virgin Islands, where Epstein owned two islands that he used to abuse victims. The government accused the bank of enabling sex trafficking by continuing to allow the billionaire to use their services despite suspicions about his activity.

The conditions of the settlement require $55 million to go toward local charities to help victims of trafficking, domestic abuse, and other crimes. The money would also be used to help law enforcement departments enhance their capabilities, and $10 million of that amount would go towards a fund to provide mental health services for the survivors of Eptstein’s abuse.

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