JPMorgan Chase has agreed to a $290 million settlement with victims of Jeffrey Epstein’s alleged sex trafficking ring. The lawsuit accused the bank of ignoring red flags that pointed to Epstein’s abuse of women and children. The bank had a business relationship with Epstein for over 15 years despite mounting evidence and warnings about his activities. The settlement sends a message that financial institutions must play a role in identifying and shutting down sex trafficking operations. On a separate note, JPMorgan is locked in a legal battle with the US Virgin Islands, alleging that the bank was aware of Epstein’s activities on his island. JPMorgan responded by accusing the government of being complicit in Epstein’s crimes.
