Short Answer
JPMorgan Chase paid approximately $290 million to settle a lawsuit by the US Virgin Islands government and a separate $75 million to settle a class-action lawsuit filed on behalf of Epstein’s victims — totaling approximately $365 million in Epstein-related civil settlements. The bank also entered into a deferred prosecution agreement with the DOJ.
In Detail
The USVI Lawsuit
In January 2023, the US Virgin Islands filed a lawsuit against JPMorgan alleging that the bank had enabled Epstein’s sex trafficking operation by maintaining his accounts, processing suspicious transactions, and failing to file legally required suspicious activity reports, even after his 2008 sex offender conviction. The lawsuit alleged that JPMorgan was put on notice internally about Epstein’s criminal behavior but retained him as a client for profit.
In June 2023, JPMorgan settled the USVI lawsuit for $290 million, one of the largest bank settlements related to trafficking facilitation.
The Victim Class-Action
A separate class-action lawsuit brought by Epstein survivors reached a $75 million settlement with JPMorgan in June 2023. The suit alleged the bank profited from and enabled the trafficking network that abused the women in the class.
Deferred Prosecution Agreement
Separately, the Department of Justice reached a deferred prosecution agreement with JPMorgan in which the bank acknowledged it had failed to properly monitor and report Epstein’s accounts, which showed unmistakable signs of criminal activity. The bank paid a $75 million fine as part of this agreement.
Jes Staley Connection
Internal communications revealed that Jes Staley, a senior JPMorgan executive who later became CEO of Barclays, had maintained a close personal relationship with Epstein and was believed by colleagues to have helped shield Epstein’s accounts from compliance scrutiny. JPMorgan’s own lawsuit against Staley sought to recover settlement costs.