JPMorgan Settles Jeffrey Epstein Victim Lawsuit

June 12, 2023: JPMorgan Chase has agreed to settle a lawsuit filed by victims of Jeffrey Epstein, according to an announcement made by the bank on Monday.

The financial institution has not yet disclosed the specific terms of the settlement, referring to it as an “agreement in principle.” JPMorgan had been defending itself against the class action lawsuit for several months.
In a joint statement, the bank and the victims’ lawyers expressed that
settling is in the best interests of all parties, particularly the survivors who suffered from Epstein’s abhorrent abuse.

The statement did not disclose the amount of the settlement.
“We now recognize the monstrous nature of Epstein’s actions, and we believe that this settlement is the best outcome for everyone involved, especially the survivors who endured unimaginable abuse by this man,” stated JPMorgan.

The agreement comes after JPMorgan CEO Jamie Dimon provided a deposition to the victims’ legal team a few weeks ago. The lawsuit accused the bank of repeatedly disregarding warnings about Epstein’s involvement in the sex trafficking of young women and girls.
Dimon testified that he had no involvement in managing Epstein’s accounts with the bank.

“Following his deposition, our CEO reiterated that he never met with Epstein, never emailed him, has no recollection of discussing his accounts internally, and was not part of any decisions concerning his account,” JPMorgan stated. “Millions of emails and documents are produced in this case, and none of them suggest in any way that he had any role in decisions about Epstein’s accounts.”

Last week, lawyers representing Epstein’s victims requested a second interview with Dimon, claiming that the bank had been uncooperative in providing additional documents that would have affected their initial questioning.

In a letter to Judge Jed Rakoff, an attorney for the victims stated that JPMorgan’s delayed and inexplicably slow document production appeared to be a strategic move.

“As a background, this court previously criticized JPMC in May for the slow rate of document production,” wrote Sigrid McCawley, the attorney representing the victims, on Friday.