JPMorgan Chase has agreed to pay $75 million to settle claims that it enabled the Sex Trafficking acts committed by financier Jeffrey Epstein. The settlement with the U.S. Virgin Islands includes $55 million for local charities and assistance for victims, and $20 million for legal fees. The Virgin Islands had sued JPMorgan, alleging that the bank facilitated Epstein's operation and did not alert authorities about his activities. The settlement also includes a confidential agreement with former JPMorgan executive James "Jes" Staley, who managed Epstein's account. JPMorgan had previously agreed to pay $290 million in a separate class-action lawsuit involving Epstein's victims.

The post JPMorgan to pay $75 million for role in Epstein Sex Trafficking Operation appeared first on Balanced News Summary.