2023-09-26 16:53:47
The American bank JP Morgan Chase has concluded an amicable agreement with the American Virgin Islands which settles the proceedings launched by the territory once morest the establishment, which it accused of having facilitated the operation of the prostitution network set up by the financier Jeffrey Epstein. As part of the agreement, JP Morgan Chase agreed to pay $75 million (€71 million), part of which, $30 million (€28.4 million), will go to charities, according to a press release published Tuesday September 26 by the bank.
The settlement does not include an admission of guilt, but the bank said “sincerely regret any association with this man”. J.P. Morgan Chase “would never have continued to do business with him if she had thought he was using the bank to carry out his criminal activities”assured the establishment.
Arrested in July 2019 and charged with maintaining a prostitution network made up, in large part, of minors, he committed suicide in detention at the beginning of August of the same year, before his trial.
The Virgin Islands had taken JP Morgan Chase to court, accusing them of not having prevented the New York financier from using the bank’s services to maintain this network and demanding 190 million dollars (180 million euros) from them. damages and interests.
In June, the establishment agreed to pay $290 million (274 million euros) to alleged victims of Mr. Epstein, once more avoiding a trial. The financier, whose origins of his fortune are opaque, was a client of JP Morgan Chase between 1998 and 2013, before the establishment finally decided to sever their commercial relationship.
Amicable agreement
Jeffrey Epstein was sentenced in 2008 to a reduced prison sentence of thirteen months for having led young girls into prostitution in Florida, according to a secret agreement made with a prosecutor allowing him to escape federal prosecution. But, in 2019, the federal prosecutor in Manhattan ignored this deal and indicted the sixty-year-old for similar acts.
Considered the right arm of Jeffrey Epstein, the daughter of British media mogul Robert Maxwell, Ghislaine Maxwell, was sentenced, in June 2022, to twenty years in prison for having collaborated in this system of sexual exploitation.
JP Morgan Chase also announced Tuesday that it had reached an amicable settlement with one of its former executives, James “Jess” Staley, at the center of the bank’s relationship with Jeffrey Epstein, with whom he was friends. This transaction puts an end to the civil proceedings initiated by the establishment once morest him, JP Morgan Chase indicated.
Read also: Jeffrey Epstein affair: JP Morgan bank colludes with victims to avoid trial
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