Main Topic: Jeffrey Epstein referred former Obama White House counsel Kathryn Ruemmler to JPMorgan Chase as a client in 2019.
Key Points:
1. Epstein's assistant emailed a JPMorgan Chase executive recommending Ruemmler as a customer.
2. JPMorgan Chase terminated Epstein as a client in 2013, but he referred several ultra-wealthy clients to the bank.
3. The U.S. Virgin Islands is suing the bank, alleging it facilitated Epstein's sex trafficking enterprise and failed to report suspicious financial activity.
Goldman Sachs, JPMorgan Chase, Morgan Stanley, and UBS have agreed to pay $499 million to settle an antitrust lawsuit accusing them of conspiring to stifle competition in the stock lending market.
JPMorgan Chase processed over $1 billion for Jeffrey Epstein over 16 years, according to disclosures made to U.S. authorities, which are now being used in a lawsuit filed by the U.S. Virgin Islands against the bank.
JPMorgan is developing a blockchain-based solution for cross-border transactions called deposit tokens, which will allow settlements between banks for corporate clients, pending regulatory approval.
Four banking giants, including JPMorgan, Goldman Sachs, UBS, and Morgan Stanley, have agreed to pay a total of $499 million to settle a class action lawsuit accusing them of attempting to hinder competition in the stock-lending market.
JPMorgan Chase allegedly informed the government of over $1 billion in suspicious transactions related to human trafficking by Jeffrey Epstein, according to a lawyer representing the U.S. Virgin Islands in its lawsuit against the bank.
JP Morgan Chase will pay $75 million to the US Virgin Islands to settle claims that the bank enabled Jeffrey Epstein's sex trafficking, with a majority of the settlement going towards local charities and services for Epstein's survivors.
JPMorgan executes its first live blockchain-based collateral settlement transaction using its Ethereum-based Onyx blockchain and Tokenized Collateral Network, Coinbase's legal fight over the status of crypto faces new challenges, and a former CEO testifies against FTX's founder in a fraud case.
The $290 million settlement between JPMorgan Chase and Jeffrey Epstein's accusers is being objected by several US states, citing concerns that the agreement could impede their ability to seek compensation for sexual abuse victims.
JPMorgan's digital token JPM Coin handles $1 billion worth of transactions per day and the bank plans to expand its usage beyond dollars to other currencies, according to the head of payments at the bank.
JPMorgan is refusing to pay nearly $835,000 of startup founder Charlie Javice's legal fees, despite being ordered to pay the total amount of almost $3.8 million.
JPMorgan's flagship cryptocurrency, JPM Coin, is now processing over a billion dollars' worth of transactions daily, addressing inefficiencies in the payment sector including speed, the separation of money information, and the fungibility of money.
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