JPMorgan settles with Epstein victim
JPMorgan Chase said Monday it has reached a settlement with one of late sexual predator Jeffrey Epstein's victims, who had been suing the bank in federal court.
The bank's litigation with the U.S. Virgin Islands in the Epstein matter remains, however. Its claims against former executive Jes Staley, who was friends with Epstein, are also active, the bank said.
The announcement didn't disclose the terms of the settlement. Last month, Deutsche Bank, where Epstein was became a after he left JPMorgan in 2013, settled with Epstein victims for $75 million.
The victim and the Virgin Islands, where Epstein owned a private island, both claim JPMorgan continued working with Epstein after learning he had been a predator, and facilitated his sex trafficking crimes.
The announcement comes more than a week after JPMorgan CEO Jamie Dimon gave a deposition in the Epstein cases. On Friday, lawyers for the Epstein victim, called Jane Doe 1 in documents, asked the court to reopen Dimon's deposition.
The accuser's lawyers also sought to reopen the depositions of Mary Erdoes, who is CEO of JPMorgan's asset and wealth management division; Mary Casey, who was Epstein's banker for about a decade at JPMorgan; and a fourth person, only identified in the filing as JPMorgan's "representative." All four would be asked about documents turned over after their initial depositions, according to a filing.
JPMorgan has denied wrongdoing and says it regrets having had Epstein as a client.
One of the late-produced documents was a timeline that referenced emails in which Staley asks Epstein a question. "Plaintiff would have confronted JPMC's CEO, Mr. Dimon, with this document during his deposition had it been produced in a timely manner," the filing said.
Read the full release:
JPMorgan Chase and Jane Doe 1 Reach Agreement to Settle Lawsuit in Epstein Matter
NEW YORK, June 12, 2023 –The parties in Jane Doe 1 v. JPMorgan Chase Bank, N.A. have informed the Court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein's crimes, which is subject to court approval.
Litigation is still pending between the US Virgin Islands and JPMorgan Chase, as are JPMorgan Chase's claims against Jes Staley.
The parties believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein's terrible abuse.
This is breaking news. Please check back for updates.
Source: CNBC
