Last week, lawyers for an anonymous victim of billionaire sex trafficker Jeffrey Epstein asked the court to again depose JPMorgan Chase CEO Jamie Dimon. This week, the bank threw in the towel, settling with Epstein victims who claim the bank knew of his activities and facilitated them.
The unnamed woman filed the complaint last year, alleging the bank knowingly benefited from and facilitated Epstein's sex trafficking operation. The woman, who alleges she was raped and trafficked, sued on behalf of a "large number" of other victims of that operation. The judge in the case hadn't yet ruled whether the case should have class action status. The bank's litigation with the U.S. Virgin Islands in the Epstein matter remains, however. Its claims against former executive Jes Staley, who was friends with Epstein, are also active, the bank said. JPMorgan argues that Staley is responsible for any civil liability a jury might find in the Epstein case. It is also looking to claw back more than $80 million in pay from the former executive.The announcement didn't disclose the terms of the settlement. Last month, Deutsche Bank, where Epstein became a client after he was forced out by JPMorgan in 2013, settled with Epstein victims for $75 million.
JPMorgan only got rid of Epstein after five years of staff raising concerns about keeping him as a client after following his Florida conviction for soliciting sex from a minor. The settlement was announced in a brief letter published by JPMorgan Chase and the plaintiff's lawyers.
NEW YORK, June 12, 2023 –The parties in Jane Doe 1 v. JPMorgan Chase Bank, N.A. have informed the Court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein's crimes, which is subject to court approval.
Litigation is still pending between the US Virgin Islands and JPMorgan Chase, as are JPMorgan Chase's claims against Jes Staley.
The parties believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein's terrible abuse.