JPMorgan Settles USVI Epstein Lawsuit for $75 Million
JPMorgan Chase agreed to pay $75 million to settle the U.S. Virgin Islands lawsuit alleging the bank facilitated and profited from Epstein's sex trafficking operation by processing payments related to it for more than a decade.
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On June 12, 2023, JPMorgan Chase agreed to pay $75 million to settle a lawsuit filed by the United States Virgin Islands against the bank, resolving allegations that JPMorgan had knowingly facilitated Jeffrey Epstein’s sex trafficking operation.
The USVI suit, filed by Attorney General Denise George in late 2022, alleged that JPMorgan had processed payments that funded the trafficking network for years despite repeated internal compliance warnings about Epstein’s account. The suit argued that JPMorgan had retained Epstein as a client because of the business he generated — particularly his introductions of other high-value clients — and that the bank was therefore a direct participant in the trafficking enterprise.
The settlement was followed by JPMorgan’s internal lawsuit against Jes Staley, a former senior executive who had maintained the bank’s relationship with Epstein. JPMorgan alleged Staley had concealed information about Epstein from compliance teams.
Separately, Deutsche Bank settled a related lawsuit for $75 million in May 2023. The parallel settlements represented the first significant financial accountability for institutions that had enabled Epstein’s operation.
Neither settlement included an admission of wrongdoing by the banks.