OAN’s Noah Herring
10:48 AM – Monday, June 12, 2023
JPMorgan Chase has revealed that the company will pay around $290 million to settle a class action lawsuit with a woman who claims that the bank knowingly benefited from sexual abuse that she and others suffered from at the hands of Jeffrey Epstein.
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On Monday, the bank announced in a joint statement with lawyers of the women who are suing that it had agreed to settle the lawsuit, while preventing admission of any wrongdoing.
“Any association with him (Epstein) was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” JPMorgan said.
The proposed lawsuit claimed that JPMorgan ignored several internal warnings about Epstein’s sexual abuse of young women.
CEO Jaime Dimon testified, claiming that he played no part in handling Epstein’s accounts.
“Our CEO reaffirmed after his deposition that, as he has previously said, that he never met with him, never emailed him, does not recall ever discussing his accounts internally, and was not involved in any decisions about his account,” JP Morgan said in a statement. “There are millions and millions of emails and other documents that have been produced in this case and not one comes close to even suggesting that he had any role in decisions about Epstein’s accounts.
Dimon denied in his deposition that he had ever heard of Epstein’s name before he was arrested, noting he first heard about him “when the story blew wide open.”
Dimon further stated, “He was arrested, and all the stories came out about all the people he knows. And the reason I remember that is I was surprised that I didn’t know about it before.”
The bank is still facing a lawsuit from the U.S. Virgin Islands, where Epstein had his islands and was suspected of trafficking his victims.
A spokesman for the U.S. Virgin Islands has stated that the U.S. territory would continue its lawsuit against the bank “to ensure full accountability for JPMorgan’s violations of law and prevent the bank from assisting and profiting from human trafficking in the future”.
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