JP Morgan has reached a preliminary agreement to settle a lawsuit involving alleged victims of convicted intercourse offender Jeffrey Epstein. Economical ’s attorneys acknowledged that the settlement serves the best interests of all events, significantly the survivors who suffered from Epstein’s horrific abuse. The lawsuit claimed that the biggest US financial institution disregarded warning signs about its shopper throughout a 15-year relationship.
The terms of the settlement haven’t been disclosed. “We all now perceive that Epstein’s behaviour was monstrous,” lawyers for the bank mentioned in an announcement on Monday. “Any association with him was a mistake and we remorse it. We would by no means have continued to do business with him if we believed he was utilizing our bank in any way to assist commit heinous crimes.”
The settlement comes after weeks of embarrassing revelations concerning the extent of JP Morgan’s relationship with the late financier. In late February, long-time chief executive Jamie Dimon provided a formal assertion underneath oath for the case, leading to a day-long deposition from the bank’s headquarters in New York.
Lawyers representing the unnamed accuser who filed the swimsuit – recognized only as Jane Doe 1 – requested a federal judge on Friday to allow them to take new testimony from Dimon. They also requested to reopen depositions for 3 different key witnesses in the case.
Another lawsuit filed in opposition to the bank late last yr in federal court docket continues to be pending. That case was brought on behalf of the government of the US Virgin Islands, the place Epstein owned a non-public island with a mansion.
The financier saved lots of of millions of US dollars in additional than 50 accounts at JP Morgan between 1998 and 2013, five years after he pleaded responsible to soliciting a minor for prostitution. He was discovered dead at the age of 66 in a prison cell in 2019. New York City’s medical examiner dominated the dying a suicide.
Guide stated that JP Morgan “knowingly facilitated, sustained and concealed” the frequent money withdrawals Epstein made to pay the young ladies he trafficked, whereas taking improvement of the deals and clients that the financier introduced in.
The bank, which earlier did not dismiss the dual suits, has countered that any civil liability ought to rest with Jes Staley, a former top government who befriended Epstein. Staley has said his former employer is trying to “deflect blame” for its own failures and sought to dismiss the claims, but the criticism in opposition to him stays lively..