JPMorgan Chase has reached a tentative settlement with the sexual abuse victims of Jeffrey Epstein. The bank is set to pay $290M to resolve the lawsuit that JPMorgan ignored years of abuse of underage girls at the hands of Epstein. This comes after weeks of disclosures about the bank's longstanding relationship with the financier. The bank is said to have ignored years of activity that should have raised red flags and warnings about sex trafficking. - The lawsuit was filed last November in Manhattan federal court by an unidentified woman on behalf of the victims of Epstein over a 15-year period. The number of victims could rise above 100.
- In a joint statement, the bank and the lawyers for the victims said they had reached "an agreement in principle to settle" the lawsuit on behalf of the victims, and the "settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein's terrible abuse."
- JPMorgan had provided banking services for Epstein from roughly 1998 to 2013, during which time it is said his worst conduct was committed.
There is still a lawsuit against JPMorgan Chase outstanding in the U.S. Virgin Islands government. | 