JPMorgan Chase reaches settlement with Jeffrey Epstein victims

JPMorgan Chase has reached a settlement with victims of convicted sex offender Jeffrey Epstein over claims the bank profited from sexual abuse that victims suffered and ignored warnings about Epstein.

The lawsuit alleges JPMorgan Chase gave Epstein loans while ignoring warnings about Epstein’s abuse between 1998 and 2013. Epstein died in prison in 2019 after he was arrested on federal sex trafficking charges.

In a statement on Monday, JPMorgan announced that the parties “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.”

“We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man,” JPMorgan Chase said in the statement.

Lawyers for the victims involved in the settlement did not immediately respond to a request for comment.

“Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” the bank said.

The statement did not disclose the settlement amount.