Judge Approves JPMorgan’s $290 Million Settlement To Nearly 200 Victims Of Jeffrey Epstein

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Kay Smythe News and Commentary Writer
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A federal judge approved a class-action lawsuit settlement Thursday in which JPMorgan Chase will pay sexual abuse victims of late child trafficker Jeffrey Epstein $290 million.

Judge Jed Rakoff gave final approval for the deal after a lengthy hearing to assess whether the final settlement was fair for the nearly 200 victims of Epstein’s international child sex trafficking ring, The New York Times reported. At least 15 victims submitted their written declarations of support for the deal, one of whom was just 13-years-old when Epstein sexually assaulted her.

JP Morgan and the victims initially reached an agreement in June 2023, after a case was brought against the financial institution alleging its member of enabling Epstein’s trafficking.

“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 said at the time. “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.” (RELATED: Ghislaine Maxwell Spills Tea On Her ‘Special Friendship’ With Bill Clinton)

Litigation is still pending in another JPMorgan-Epstein case, which was brought about by the U.S. Virgin Islands. And another case involved former JPMorgan executive Jes Staley and his relationship with Epstein.