- JPMorgan accepted a settlement for resolving the lawsuit against them.
- More than 120 victims are getting a legal judgment for their loss.
JPMorgan Chase & Co, the financial services in New York City, America has been alleged to pay a tentative settlement of around $290M. This is due to the lawsuit raised against them and resolving the sexual abuse victims of Jeffrey Epstein, a financier. However, this Monday, the claim has been recorded as a result of the federal lawsuit documented a year ago.
BREAKING: JP Morgan Chase is prepared to pay $290 million to resolve claims by victims of Jeffrey Epstein, according to CNBC
— Genevieve Roch-Decter, CFA (@GRDecter) June 12, 2023
But the bank knew nothing about what Epstein was doing, right? 🤔 pic.twitter.com/lUaIfk86Kx
Following the judgment of proceeding the case as a class-action lawsuit in Manhattan’s District Court, United States, the settlement is announced. Meanwhile, one of the lawyers, David Boies condemned that the bank agreed to the payment resolving the lawsuit. Also, there was no such agreement signed by JPMorgan as it will be added in the court filing, in the coming week.
More About the Case & Lawsuit
Back in 2019, Epstein was accused of a sexual crime against him and prisoned in Manhattan jail. He then killed himself soon after his arrest. Correspondingly, the CEO of JPMorgan, Jamie Dimon was doubted for having a connection with Epstein. Thereby, JPMorgan is facing a lawsuit raised against them by U.S. Virgin Islands.
JPMorgan has been ignoring the alerts given against Epstein for his illegal sexual offense over women of different ages from a teenage girl. The lawsuit reached for JP Morgan said that the bank has ignored all the red flags of the client Epstein as he was termed as a high-status client.
Later on in 2006, as per the reports claimed, Epstein is termed a ‘high-risk client’. Moreover, the reports added the unusual withdrawals and the evident payments to young girls. As of now, JPMorgan said:
“We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man.”
Also, the lawyer Boies said:
“It has taken a long time, too long, but today is a great day for Jeffrey Epstein survivors.”
Moreover, there are 120+ victims affected and are getting paid as a result of the judgment so far. The lawyers proclaimed that the victims should be justified though the case retains long years.
