Jaw-Dropping Revelation: JPMorgan Strikes $75 Million Deal in Shocking Jeffrey Epstein Scandal

JPMorgan Chase has reached a settlement with the US Virgin Islands in relation to a lawsuit accusing the bank of facilitating Jeffrey Epstein's sex-trafficking offenses. As part of the settlement, JPMorgan Chase has made substantial commitments to combat human trafficking and will pay $75 million to the US Virgin Islands.

The USVI attorney general filed a lawsuit against JPMorgan Chase in December in the Southern District of New York. They alleged that the bank profited from Epstein's sex-trafficking operation and failed to report suspicious financial activity. JPMorgan responded in a statement on Tuesday, emphasizing that it does not accept any responsibility in the settlement and expressing regret for any association with Epstein.

Leon Black, the CEO and chairman of Apollo Global Management LLC, delivers a speech at the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, May 2, 2016. This conference brings together attendees to tackle the most urgent challenges in financial markets, industry sectors, health, government, and education. Photographer: Patrick T. Fallon/Bloomberg via Getty Images

Patrick T. Fallon/Bloomberg/Getty Images

Leon Black agrees to pay $62.5 million to avoid Jeffrey Epstein-related lawsuits in the US Virgin Islands

Epstein was taken into custody in 2019 for federal offenses related to engaging in sex trafficking with numerous underage girls. Shortly after his arrest, Epstein took his own life while in jail, as confirmed by the medical examiner in New York.

As stated in the criminal indictment, Epstein operated a trafficking operation between 2002 and 2005. During this time, he would compensate girls as young as 14 to engage in sexual activities with him at his residences on the Upper East Side and in Palm Beach. The indictment further reveals that Epstein coordinated with employees and associates to entice the girls to his properties and even paid some of his victims to recruit additional girls.

The bank has allocated $30 million from the settlement to aid charitable organizations in their efforts to combat human trafficking and support survivors. An additional $25 million will be paid to the USVI to improve infrastructure and strengthen law enforcement. The remaining $20 million has been designated for covering legal expenses.

JPMorgan has announced a separate settlement with former executive James "Jes" Staley, whom the bank had filed a cross claim against for his alleged involvement in facilitating Epstein's association with the bank.