JPMorgan Chase settles Jeffrey Epstein sex trafficking suit by U.S. Virgin Islands for $75 million
Publishing timestamp: 2023-09-26 17:26:50
Summary
JPMorgan Chase will pay $75 million to settle a lawsuit by the U.S. Virgin Islands, which alleged that the bank facilitated and benefited from the sex trafficking of young women by its customer Jeffrey Epstein. The settlement includes commitments by JPMorgan Chase to identify, report, and cut off support for potential human trafficking. The bank also reached a confidential settlement with Jes Staley, a former executive at the bank who was friends with Epstein. JPMorgan Chase expressed regret for its association with Epstein and stated that it would continue to work with law enforcement to combat human trafficking.
Sentiment: NEGATIVE
Tickers: JPM,
Keywords: jamie dimon, business news, jpmorgan drn, jed rakoff, jeffrey epstein, human trafficking, banks, business, u.s. virgin islands, crime, breaking news: politics, laws, politics,
Source: https://www.cnbc.com/2023/09/26/jpmorgan-to-settle-jeffrey-epstein-suit-by-virgin-islands.html