JPMorgan Chase Settles with U.S. Virgin Islands for $75M Over Jeffrey Epstein Dealings

JPMorgan Chase agrees to pay $75M to settle U.S. Virgin Islands claims over dealings with Jeffrey Epstein
Settlement ends months of legal proceedings including CEO deposition
Bank already paid $290M to settle class action by Epstein's victims
Deutsche Bank paid $75M over similar Epstein claims
Settlement includes $30M for Virgin Islands charities, $25M for law enforcement, $20M in legal fees
Also settles claims against ex-executive accused of shielding Epstein's accounts

politico.com

Relevant topic timeline:

8/19/2023

Epstein referred former Obama White House counsel to JPMorgan as client

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.

8/23/2023

Goldman, JPMorgan, Morgan Stanley, UBS in $499 million stock lending settlement

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8/29/2023

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JPMorgan Chase plans to invest $1 billion or more per year in artificial intelligence, despite anticipating a "relatively subdued" year in investment banking.

9/1/2023

USVI says JPMorgan notified Treasury of more than $1 billion in suspicious Jeffrey Epstein transactions after he died: Report

JPMorgan Chase reportedly notified the Treasury Department of over $1 billion in suspicious transactions by Jeffrey Epstein, implicating the bank in human trafficking, according to a lawyer for the U.S. Virgin Islands.

9/16/2023

U.S. Debt Soars Over $32 Trillion as Budget Deadline Looms, Threatening Growth and Households

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10/11/2023

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10/13/2023

JPMorgan Chase Reports Higher Than Expected Profits and Revenue in Q3 Despite Economic Headwinds

JPMorgan Chase's profits surge in the third quarter, surpassing expectations and reinforcing the bank's dominance despite the challenges faced by the industry; CEO Jamie Dimon warns of economic risks, including inflation, rising interest rates, and global conflicts in Ukraine and Israel.

10/23/2023

JPMorgan Chase Reaches $290M Settlement Over Jeffrey Epstein Ties, But States Object to Terms

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.

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Posted 9/26/2023, 5:39:16 PM