JPMorgan Chase has reached a settlement with the US Virgin Islands [USVI] and former executive Jes Staley to settle lawsuits related to Jeffrey Epstein’s sex-trafficking activities.
The settlement marks the end of the remaining legal disputes in the long-running scandal involving women who alleged sexual abuse by the disgraced financier. The scandal has ensnared some of the world’s most influential figures in finance and business, and it has been a constant source of concern for the United States’ largest bank for months.
JPMorgan Chase Doesn’t Maintain Guilty In Lawsuit Involving Jeffrey Epstein Despite Settlement
JPMorgan Chase has announced that it will pay USVI $75 million as part of a settlement related to a lawsuit that accused the bank of helping the late Epstein in a notorious child sex-trafficking operation. The lawsuit, filed by prosecutors in the USVI, alleges that the multinational financial services obstructed the efforts of federal law enforcement in their investigation of sex offenders.
The suit alleges that company executives, including CEO Jamie Dimon and Staley were aware of Epstein’s sex-trafficking activities as early as 2008, although they both deny these allegations. Going further, legal documents assert that the bank turned a blind eye to the actions of the former Dalton School teacher because he was generating significant income for the company.
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With this settlement, some of these allegations have been laid bare. Under the terms of the settlement shared through Business WireJPMorgan has agreed to pay $55 million, with an additional $20 million earmarked for attorneys’ fees.
The $55 million split underscores that the New York City-based company will contribute $30 million toward supporting charitable organizations in the USVI that actively address a variety of social issues, including combating human trafficking and other sex crimes.
The remaining $25 million will be paid directly to the USVI to strengthen the infrastructure and capabilities of law enforcement agencies in their efforts to prevent and combat human trafficking and other crimes within their territories. Maintaining their position of innocence in the Epstein debacle, JPMorgan stated:
“While the settlement does not involve an admission of liability, the firm deeply regrets any association with this man, and will never continue to do business with him if it believes he used the bank in any way to commit his heinous crimes. The firm will continue to work with law enforcement to combat human trafficking and help identify the improper movement of money into the global payment system.”
“An agreement has also been reached with former executive James Edward Staley to settle JPMorgan Chase’s claims against him. The terms of the agreement with Staley are confidential,” the lengthy statement concluded.
Ghislaine Maxwell Appears to Confirm Prince Andrew’s Innocence in Epstein Scandal
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Last October, Maxwell, who played a key role in helping Epistein’s sex-trafficking activities, shared his perspective on Prince Andrew’s involvement in the scandal. Maxwell has faced legal consequences of his own, having been sentenced on federal charges related to sex trafficking and conspiracy in 2021 following the death of his friend in 2019.
Speaking about the Duke of York’s alleged sexual involvement with 17-year-old Virginia Giuffre, Epstein’s senior woman once said from behind bars:
“Yes, I followed what happened to him. He paid such a price for association with Jeffrey Epstein. I care about him, and I feel really bad for him.”
The former socialite later insisted that the image of Andrew holding Giuffre around the shoulder had been doctored, even though she appeared with the two in it with Epstein behind the camera. Commenting on their relationship with former Bear Stearns employees regarding Duke and many others, including himself, Maxwell stated:
“There are a lot of people affected by this story that have been canceled, some of my friends who never met Epstein even lost their jobs. People who really had nothing to do with it were canceled.”
The 61-year-old continued, “So I think for everyone, including some of those who have never met him, it’s a very high price that has been paid because of the cancellation culture. So, you know, from that perspective, I think it’s very difficult for a lot of people.”
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Source: thtrangdai.edu.vn/en/
