OAN’s Taylor Tinsley
1:40 PM – Friday, June 23, 2023
Victims of Jeffrey Epstein have asked a federal judge to approve a $290 Million settlement agreement from JPMorgan Chase. They accused the company of benefiting from Epstein and turning a blind eye to his abuses.
In a federal court filing in Manhattan on Thursday, lawyers said the proposed settlement was “fair, adequate, reasonable” and in the best interests of the victims. The number of women is not specified, but the settlement involves women who were either sexually abused or trafficked by Epstein from 1998 to 2019. Epstein was a JPMorgan client from 1998 to 2013.
The settlement is the result of a multi-year investigation which initially kicked off in 2021. The Lead Plaintiff’s counsel filed an individual and class action complaint in November 2022, which was later amended in January 2023.
“The operative Complaint alleges that Jeffrey Epstein’s sex trafficking venture was facilitated and enabled by Defendant (JPMorgan) helping Epstein avoid regulators’ scrutiny and providing Epstein with withdrawal and wire services, all so Defendant could profit from Epstein and his associates,” the filing notes.
It also stated that JPMorgan denies all of the Lead Plaintiff’s allegations.
“Defendant denies that JPMorgan participated in the Epstein sex trafficking venture. Defendant further denies that its conduct supported Epstein’s sex trafficking venture or prevented law enforcement from apprehending Epstein sooner than it ultimately did. Defendant contests Lead Plaintiff’s allegations that Defendant has liability under the Trafficking Victims Protection Act (“TVPA”) or under New York law.”
Meanwhile, despite denying such claims, JPMorgan released a statement earlier this month saying any association with Epstein “was a mistake and we regret it.”
“We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man,” the company added.
Epstein was arrested on federal charges in 2019, and was found dead in his jail cell from apparent suicide not long after.
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