Global Courant
JPMorgan Chase said Monday it has reached a settlement with one of the victims of the late sexual predator Jeffrey Epstein, who sued the bank in federal court.
However, the U.S. Virgin Islands bank’s lawsuit in the Epstein case remains. The claims against former CEO Jes Staley, who was friends with Epstein, are also active, the bank said.
The announcement did not disclose the terms of the settlement. Last month, Deutsche Bank, which Epstein became one after he left JPMorgan in 2013, settled with Epstein victims for $75 million.
The victim and the Virgin Islands, where Epstein owned a private island, both allege that JPMorgan continued to work with Epstein after learning he had been a predator, facilitating his sex trafficking crimes. Moving forward, however, the Virgin Islands points to multiple new exposures with email chains showing more concern for Epstein within the bank than previously known, especially among its legal and compliance staff.
The announcement comes more than a week after JPMorgan CEO Jamie Dimon made a statement in the Epstein cases. On Friday, lawyers for the Epstein victim, named Jane Doe 1 in documents, asked the court to reopen Dimon’s statement.
The prosecution’s lawyers also tried to reopen the statements of Mary Erdoes, CEO of JPMorgan’s wealth and wealth management division; Mary Casey, who was Epstein’s banker at JPMorgan for about a decade; and a fourth person, identified only in the filing as the “representative” of JPMorgan. All four would be asked for documents transferred after their initial statements, according to a filing.
JPMorgan has denied wrongdoing and says it regretted Epstein as a client.
One of the documents produced late was a timeline that referenced emails in which Staley, the former executive of JPMorgan, asks Epstein a question. (Staley left another major bank, Barclays, in late 2021 following an investigation into his Epstein relationship.)
“Plaintiff would have confronted JPMC CEO Mr. Dimon with this document during his deposition if it had been provided in a timely manner,” the filing said.
JPMorgan has said that Dimon did not review Epstein’s accounts when he was a client there from 1998 until 2013, when JPMorgan broke off relations with him.
Epstein died by suicide in a New York prison six years later, weeks after federal authorities charged him with trafficking girls for sex.
Read the full issue:
JPMorgan Chase and Jane Doe 1 reach agreement to settle Epstein lawsuit
NEW YORK, June 12, 2023 – The parties in Jane Doe 1 v. JPMorgan Chase Bank, NA have notified the court that they have reached an agreement in principle to settle the alleged class action lawsuit related to the crimes of Jeffrey Epstein, which is subject to is subject to court approval.
A lawsuit between the US Virgin Islands and JPMorgan Chase is still ongoing, as are JPMorgan Chase’s claims against Jes Staley.
The parties believe that this settlement is in the best interests of all parties, especially the survivors who were victims of Epstein’s horrific abuse.
– CNBC’s Eamon Javers contributed to this article.
This is the latest news. Check back later for updates.
