A recent federal court decision marks a significant development in the ongoing saga of the late Jeffrey Epstein’s criminal activities. Judge Jed Rakoff granted final approval to a class-action lawsuit settlement, compelling JPMorgan Chase to pay $290 million to the victims of Epstein’s international child sex trafficking ring.
This decision comes after a thorough assessment of the settlement’s fairness to the nearly 200 victims involved.
The New York Times reported that at least 15 victims, including one who was just 13 years old when Epstein sexually assaulted her, submitted written declarations supporting the deal. This settlement follows an agreement reached in June 2023, after JPMorgan Chase faced allegations of enabling Epstein’s trafficking operations.
“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,” JPMorgan Chase’s corporate communications office stated. “Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes.”
In addition to this settlement, JPMorgan Chase is also involved in other legal proceedings related to Epstein. The U.S. Virgin Islands has brought forth another lawsuit against the bank. Furthermore, a separate case is examining the relationship between former JPMorgan executive Jes Staley and Jeffrey Epstein.
These ongoing legal challenges highlight the intricate and far-reaching implications of the Epstein scandal, particularly concerning the financial institutions and individuals connected to it.
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