A United States judge has preliminarily approved a settlement between JP Morgan and Epstein’s victims valued at $290 million. The group of women abused by Epstein argued in their lawsuit against the bank that the largest financial institution in the United States ignored the accusations of sex trafficking by its former employee and continued to maintain economic relations with him despite the first conviction against the millionaire.
District Judge Jed Rakoff of Manhattan (New York) has been in charge of approving the agreement. This is the second time that a financial institution has paid a million-dollar sum to the victims of Epstein, after the agreement they reached a few weeks ago with the bank Deutsche Bank with a value of 75 million dollars. According to the judge, “although the compensation is large, it does not compensate for the abuses they suffered.”
Epstein was a client of JPMorgan from 1998 until 2013, when the bank canceled its accounts. Epstein remained a JPMorgan client for five years after pleading guilty in 2008 to a prostitution charge in Florida and being registered as a sex offender.