JPMorgan reaches $290 million settlement with Jeffrey Epstein victims

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A woman in November filed a federal lawsuit against the bank, claiming that JPMorgan granted loans to Epstein and allowed him to withdraw money even after it learned he was involved in sex trafficking. JPMorgan CEO Jamie Dimon last month testified that he did not know about Epstein or his crimes before he was arrested in 2019. The bank cut ties with Epstein in 2013. Epstein committed suicide in August 2019 while in federal custody, facing sex trafficking charges. The bank announced the settlement Monday.

How many women could benefit from the settlement? Federal Judge Jed Rakoff also on Monday ruled to make the case a class-action lawsuit. Women who were abused or trafficked by Epstein while he was a client of JPMorgan would be eligible to file a claim in the settlement. Deutsch Bank in May agreed to pay $75 million to settle a similar lawsuit.

Dig deeper: From the archives, read Lynde Langdon’s report in Muse about how the media failed to report on the Epstein story for years.

Lauren Canterberry

Lauren Canterberry is a reporter for WORLD. She graduated from the World Journalism Institute and the University of Georgia with a degree in journalism, both in 2017. She worked as a local reporter in Texas and now lives in Georgia with her husband.