agreed to pay about $290 million to settle a class action lawsuit by victims of Jeffrey Epstein, a person familiar with the matter said, resolving a large part of litigation over the bank's relationship with the disgraced financier.
"Any association with him was a mistake and we regret it," JPMorgan said. "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." JPMorgan kept Epstein as a client of the bank from 1998 until he was dropped in 2013 even after his 2006 arrest on prostitution-related charges and a related guilty plea two years later., who it accuses of concealing what he knew about Epstein, is continuing.
"The settlements signal that financial institutions have an important role to play in spotting and shutting down sex trafficking," Sigrid McCawley, a lawyer for the woman known as Jane Doe 1 who sued JPMorgan, said in a statement. Dimon testified under oath in May that he had barely heard of Epstein until his July 2019 arrest, and did not recall discussing Epstein's accounts with other bank officials, including those authorized to terminate Epstein as a client.asked Staley
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FoxNews - 🏆 9. / 87 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »