| Advertisement |
June 12 (UPI) -- JPMorgan Chase said it reached a settlement on Monday with one of Jefferey Epstein's sexual victims who sued the bank in federal court charging the institution aided the late financier in his alleged crimes. The terms of the settlement in the case, brought by an unnamed woman who alleged the bank, which took on Epstein as a client from 1998 to 2013 knowingly benefitted from the late billionaire's sex trafficking operation.
Advertisement
"The parties in Jane Doe 1 vs. JPMorgan Chase Bank, N.A. have informed the court that they have reached an agreement in principle settle the putative class action lawsuit related to Jeffrey Epstein's crimes, which is subject to court approval," JPMorgan Chase said.
"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 settlement agreement comes after JPMorgan's CEO Jamie Dimon took part in a daylong deposition in which he said he barely knew Epstein before his July 2019 arrest on federal sex trafficking charges.
The court is still determining if the case should have class-action status, which would open the door for other alleged Epstein victims to join.
Numerous other lawsuits involving JPMorgan's connection with Epstein, who died of suicide in federal prison in 2019 after being brought up on new charges of sex trafficking of underage girls, are ongoing.
Last month, U.S. District Judge Jed Rakoff ruled that former JPMorgan Chase executive Jes Staley could still be held liable in a sex trafficking complaint revolving around Epstein. Staley had hoped to dismiss the case against him.
Last month, Deutsche Bank agreed to pay $ 75 million to Epstein's alleged victims to settle a federal lawsuit alleging the bank enabled and benefitted from the billionaire's trafficking of underage girls. Epstein was with the bank from 2013-2018 after his relationship with JPMorgan was severed.
