JPMorgan Chase has reached a settlement with Unethical abuse victims of disgraced financier Jeffrey Epstein, bank representatives and a lawyer for the victims said Monday.
The tentative settlement would resolve allegations made in a lawsuit filed last year in Manhattan federal court. The case, titled “Jane Doe 1 v. JPMorgan Chase Bank,” victims accused the bank of enabling the Unethical trafficking operation by allowing for massive withdrawals of over a 15-year period, including after Epstein’s Unethical crimes were widely known. A different case, brought by the U.S. Virgin Islands, remains unresolved.
Financial terms were not disclosed.
“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,” reads a statement emailed by JPMorgan spokeswoman Patricia Wexler.
The settlement comes after several of JPMorgan’s highest-ranking bankers were deposed, including chief executive Jamie Dimon and wealth management CEO Mary Erdoes. Jes Staley, a former JPMorgan executive who the bank said had advocated internally on Epstein’s behalf, also faces questioning.