JPMorgan Chase has reached a temporary settlement with victims of sexual assault Jeffrey Epstein, the deceased financier, is dead, weeks after the embarrassing revelations about the bank’s long-term relationship with him, the bank and victims’ attorneys said in a statement Monday.
David Boyes, a senior attorney for the victims, said the bank is willing to pay $290 million to resolve the lawsuit. The two parties initially agreed not to disclose the settlement amount in their joint statement, as it was to be included in the court filing within the next week. The lawsuit said the proposed deal would lead to the settlement of a lawsuit filed last November in Manhattan federal court by an unidentified woman on behalf of victims who were sexually abused by Epstein over a period of nearly 15 years when they were teenage girls and young women. The number of victims is likely to rise to more than 100. Epstein killed himself in August 2019 in a Manhattan cell a month after his arrest.
The lawsuit, filed by the victims, alleged that JPMorgan ignored repeated warnings that Epstein was trafficking teenage girls and young women for sex, even after he registered as a sex offender and pleaded guilty in a 2008 Florida case to soliciting prostitution from a teenage girl. The complaint said the bank overlooked red flags in Epstein’s business because it valued him as a wealthy client with access to dozens of wealthier people. JPMorgan provided banking services to Epstein approximately from 1998 to 2013.


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