JPMorgan Chase has agreed to pay the U.S. Virgin Islands $75 million as part of a settlement in a lawsuit that accused the company of aiding the late, disgraced financier Jeffrey Epstein in his notorious child sex trafficking operation, the company said in a statement Tuesday.
The lawsuit, filed by prosecutors in the Virgin Island, alleged that JPMorgan Chase was “complicit in the crimes of Jeffrey Epstein,” that the company obstructed federal law enforcement investigating Epstein and that company executives Jes Staley and CEO Jamie Dimon knew about Epstein’s sex trafficking as early as 2008.
Of the $75 million to be paid, $30 million will go to charitable organizations focused on fighting human trafficking, sex crimes and other social ills as well as supporting survivors, while $25 million will be spent on enhancing the Virgin Island’s law enforcement infrastructure, specifically relating to human trafficking.
JPMorgan Chase did not admit wrongdoing in the settlement.
This is a breaking story and will be updated.