Judge approves $290m settlement in suit accusing JPMorgan of ignoring Jeffrey Epstein sex trafficking
A federal judge on Monday approved a $290m preliminary settlement in a lawsuit from alleged abuse victims accusing JPMorgan Chase of turning “a blind eye” to the Jeffrey Epstein sex trafficking ring.
"This is a really fine settlement," US District Judge Jed Rakoff said on Monday in court, according to Reuters.
The suit, filed in court last year on behalf of Epstein victims, under the name of an anonymous woman dubbed Jane Doe 1, accused the bank of ignoring Epstein’s troubled history, including continuing to do business with him for five years after the disgraced financier pleaded guilty in 2008 to child prostitution charges and registered as a sex offender.
The US-based bank and the plaintiffs in the class action lawsuit reached a provisional settlement earlier this month, they announced.
“Any association with him 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 Chase said in statement announcing the settlement.
This is a breaking news story and will be updated with new information.
