In effect, the Virgin Islands had argued that JPMorgan, one of the largest banking companies in the world, had been complicit in Epstein's behavior for years.
NEW YORK — JPMorgan Chase agreed Tuesday to pay $75 million to the U.S. Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by financier Jeffrey Epstein.
The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation has revealed that the financial services giant enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise." The bank also said it reached an confidential legal settlement with James “Jes” Staley, the former top JPMorgan executive who managed the Epstein account before leaving the the bank.
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