JPMorgan Chase Reaches Agreement in Principle to Settle Lawsuit Accusing Bank of Facilitating Jeffrey Epstein’s Sex Trafficking Enterprise

JPMorgan Chase has agreed to settle a lawsuit accusing the Wall Street giant of facilitating disgraced financier Jeffrey Epstein’s sex-trafficking enterprise. In a joint statement on Monday, the bank and the victim’s lawyers said it reached an “agreement in principle” and “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.”

The tentative settlement would resolve a suit that was filed in federal court last year by a woman identified as “Jane Doe 1,” who claimed the financial institution turned a “blind eye” toward Epstein’s conduct. The lawsuit alleged that JPMorgan Chase overlooked the deceased financier’s sex trafficking and abuse because it wanted to profit from a banking relationship with him.

The suit claimed that Epstein would have been unable to engage in his sex-trafficking operation without the support of JPMorgan. It was filed on behalf of the unnamed victim and other victims of Epstein’s abuse. Litigation remains pending in a separate case filed in the U.S. Virgin Islands against JPMorgan Chase, which also alleges that the bank ignored evidence of human trafficking to profit from its business with Epstein.

The settlement is a step towards justice for the victims of Epstein’s abuse. It is hoped that the agreement will bring some closure to those affected by Epstein’s crimes. The parties involved in the settlement believe it is in the best interests of all parties, especially the survivors.