JPMorgan Settles In Jeffrey Epstein Case

MOZCO Mateusz Szymanski/(Photo by Stephanie Keith/Getty Images)

Kay Smythe News and Commentary Writer
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JPMorgan Chase announced Monday that the institution reached an agreement in a case brought about by victims of late child sex trafficker Jeffrey Epstein.

JPMorgan Chase has “reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes, which is subject to court approval,” the bank said in a statement shared with Daily Caller. The case was brought against the financial institution by a Jane Doe, who accused the bank of enabling Epstein’s international child sex trafficking operation by keeping him as a client after he pleaded guilty of similar crimes in the late 2000s.

“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 officer said in an email sent Monday. “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.”

Litigation is still pending in another case brought against the bank by the U.S. Virgin Islands, as well as a case filed by the bank against former executive Jes Staley. (RELATED: JPMorgan Demands $80 Million From Epstein-Linked Exec)

Staley and Epstein were said to have exchanged more than 1,000 emails, many of which contained bizarre communications, after Epstein’s initial arrest and conviction. It is unclear precisely how much JPMorgan Chase will pay in the settlement, but a similar case brought against Deutsche Bank resulted in a reported $75 million payout to Epstein’s victims.