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JPMorgan has agreed to a $75 million settlement in a U.S. Virgin Islands lawsuit linked to Jeffrey Epstein’s sex trafficking, sparking conspiracy theories.
On Tuesday, JPMorgan Chase and U.S. Virgin Islands Attorney General Ariel M. Smith announced a settlement agreement, including $30 million for regional charity groups addressing human trafficking and $25 million “to enhance the infrastructure and capabilities of law enforcement to prevent and combat human trafficking and other crimes in their territories.” Additionally, they will pay $20 million in attorneys’ fees for the lawsuit.
“This settlement is a historic victory for survivors and state enforcement, and it should sound the alarm on Wall Street about banks’ responsibilities under the law to detect and prevent human trafficking,” said Attorney General Smith, adding that her office looked forward to “building a new relationship with JPMorgan.”
Before the $75 million settlement, JPMorgan had already reached a $290 million deal in June in response to a class-action lawsuit with allegations identical to the U.S. Virgin Islands case.
According to their previous statement in June, JPMorgan Chase clarified that the settlement doesn’t imply guilt. The bank expressed regret for its association with Epstein and stated they wouldn’t have continued doing business with him if they knew the extent of his actions.
