US Virgin Islands sues JPMorgan Chase over Epstein links
The US Virgin Islands wants at least $US190m ($279m) from JPMorgan Chase over claims the American bank facilitated sex trafficking by Jeffrey Epstein.
The US Virgin Islands is seeking damages of at least $US190m ($279m) from JPMorgan Chase over claims that the American bank facilitated sex trafficking by Jeffrey Epstein.
It wants the bank to pay $US150m in penalties for its alleged role in his activities and hand over at least $US40m that the territory estimates the bank made from its relationship with Epstein. The figures represent the first time that the territory specified how much it was seeking.
America’s biggest bank has been caught in the fallout from the scandal surrounding Epstein, who died in US custody in 2019 while awaiting trial on sex trafficking charges. Others embroiled in the controversy include Jes Staley, a former Barclays chief executive, who came to know Epstein when he worked at JPMorgan.
Abuse is alleged to have happened on two islands Epstein owned. He was a client of the bank for 15 years until 2013.
JPMorgan also faced a lawsuit from Epstein accusers over its dealings with the sex offender. Last month the bank agreed to settle that class action for $US290m. It is also suing Mr Staley to recover losses from the two lawsuits.
The island’s Attorney-General, Ariel Smith, said: “Financial penalties, as well as conduct changes, are important to make sure that JPMorgan Chase knows the cost of putting its own profits ahead of public safety.”
The Times
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