JPMorgan To Pay $75 Million On Claims That It Enabled Jeffrey Epstein’s Sex Trafficking Operations

NEW YORK (AP) — JPMorgan Chase has agreed 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.

JPMorgan said Tuesday that $55 million of the settlement will go toward local charities and assistance for victims.

Another $20 million will go toward legal fees.

The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, arguing that JPMorgan had been complicit in Epstein’s behavior and did not raise any red flags to law enforcement or bank regulators.