2023-09-26 18:22:29
In the affair surrounding the late sex offender Jeffrey Epstein, the major US bank JPMorgan Chase is paying the US Virgin Islands $75 million (almost 71 million euros). The bank, which has long had business ties to Epstein, announced on Tuesday an agreement in principle for a corresponding settlement with the US Caribbean territory, where the financial investor owned an island.
Of the total amount, $30 million will go to victims of sexual violence and to organizations that, among other things, are dedicated to the fight against sexual crimes. $25 million will help U.S. Virgin Islands authorities better combat human trafficking. The remaining $20 million is intended to cover legal fees. In return for the payments, the ongoing proceedings against JPMorgan will be discontinued. The major bank thereby avoids civil litigation.
Accusation of supporting Epstein’s activities
The US Virgin Islands sued JPMorgan at the end of 2022. The US territory accused the major bank of having enabled Epstein’s criminal activities through its financial services and demanded $190 million in damages. The financial institution only ended its collaboration with Epstein, which had been ongoing since 1998, in 2013, years after the multimillionaire was convicted of sex crimes.
The women affected in the affair also sued JPMorgan. In June, the major bank agreed to pay the women $290 million as part of a settlement.
Now there has been an out-of-court settlement with the US Virgin Islands, where Epstein owned the island of Little Saint James. JPMorgan did not plead guilty. But the bank said it “deeply regrets” its previous collaboration with Epstein. She would never have continued doing business with him if she thought he would use JPMorgan Chase “for his heinous crimes.”
The bank also announced a settlement with its former top executive James Edward Staley on Tuesday. No details were given. JPMorgan had blamed Staley for his continued collaboration with Epstein and sued him for it.
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Epstein is said to have sexually abused underage girls and young women for years and incited them to engage in prostitution, including on Little Saint James. The multimillionaire was convicted of sex crimes in 2008, but only had to spend 13 months in prison as part of a controversial agreement with the public prosecutor.
In August 2019, he was found dead in his New York prison cell after being arrested again. According to authorities, the 66-year-old took his own life. The extremely wealthy investor had spent years dealing with well-known figures from politics and society such as former Presidents Bill Clinton and Donald Trump and Microsoft founder Bill Gates. The British Prince Andrew is also involved in the Epstein case.
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