PMorgan Chase has agreed to pay $75 million to settle a lawsuit brought by the US Virgin Islands over the bank’s client relationship with sex predator Jeffrey Epstein.
The bank confirmed the settlement in a statement to DailyMail.com on Tuesday morning, saying it did not admit liability as part of the deal, but ‘deeply regrets’ working with Epstein.
The settlement includes $30 million that will go towards US Virgin Islands charity groups that work to combat sex trafficking, $25 million to the territory’s government to fund law enforcement, and $20 million in attorneys fees.
The territory had sued JPMorgan for at least $190 million, saying the bank ignored red flags about convicted sex offender Epstein because he was a wealthy and lucrative client from 1998 to 2013.
