(TheRedAlertNews.com) – In a new court settlement likely sweeping the truth about Jeffrey Epstein under the rug, JPMorgan Chase agreed to pay $75 million to the US Virgin Islands over accusations that the investment banking giant enabled the perverted financier’s disgusting crimes.
The settlement averts a trial, which was due to start in Manhattan next month, over the US Virgin Islands accusations, The New York Post reports.
The settlement claims that during a two-day deposition in May, JPMorgan Chase CEO Jamie Dimon alleged that he did not know about Epstein’s crimes until he was arrested in 2019.
Epstein perished in a New York City jail cell in August 2019, allegedly by committing suicide.
The US Virgin Islands (USVI) filed a lawsuit against JPMorgan in 2022, accusing the investment bank of being “indispensable to the operation and concealment of the Epstein trafficking enterprise.”
The USVI administration sought at least $190 million in penalties from JPMorgan, plus other damages.
It insisted that the bank failed to inform law enforcement authorities and bank regulators that Epstein was a “high-risk customer” performing massive cash withdrawals.
In June, settling a class-action lawsuit, JPMorgan agreed to pay $290 million to Epstein’s sex-trafficking victims.
Alongside its USVI settlement, the bank also announced it had reached a confidential agreement to settle a lawsuit against James “Jes” Staley, its former top executive who managed Jeffrey Epstein’s account, The Associated Press reports.
As part of its deal with the USVI, JPMorgan made no admissions of wrongdoing.
“The firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes,” the financial services giant said in a statement.
“[The settlement] recognizes that JPMorgan remains committed to previous and ongoing efforts to fight human trafficking through its anti-money laundering (AML) program, and lists a number of processes we previously committed to,” said Patricia Wexler, a bank spokesperson, as cited by The Post.
It notes that in July, emails released as part of a Manhattan federal court filing disclosed that a top JPMorgan banker “desperately” asked Epstein for help amid the Bernie Madoff Ponzi scandal in 2008 even though Epstein had just been convicted of trafficking crimes.