AG’s for 16 US States and Washington DC Object to $290M Settlement Between JPMorgan Chase and Epstein’s Victims

An association with Jeffrey Epstein is a stain in someone’s reputation that does not easily fade from the world’s memory. Just ask America’s largest bank.

A string of interconnected lawsuits have been raging in Federal Court in New York involving JPMorgan Chase, Epstein Trafficking Victims and the Government of the US Virgin Islands.

In the last days, it seemed like the bank was finally about to close this dark chapter, having reached settlements with both the victims and the USVI – but a major disruption to these plans may have just arisen.

JPMorgan Chase’s $290 million class-action settlement with Jeffrey Epstein’s victims is facing objection from many U.S. states, alleging that the agreement ‘would limit their ability to seek compensation for sexual abuse victims’.

Reuters reported:

“In a letter made public on Monday in Manhattan federal court, the attorneys general of 16 states and Washington, D.C., complained about settlement language that prevents ‘any sovereign or government’ from seeking damages arising from sex trafficking by Epstein and the late financier’s associates.

The attorneys general said including such language without their consent would deter them from seeking damages for sex trafficking victims, not just Epstein’s, under the federal Trafficking Victims Protection Act.”

In their letter, the AGs also noted that Deutsche Bank’s similar $75 million agreement with Epstein’s accusers did not contain the offending language they are objecting to.

“‘Jeffrey Epstein’s surviving victims should be fully compensated for the profound harm they have suffered’, New Mexico Attorney General Raul Torrez wrote. ‘However, as it now stands, the settlement agreement improperly seeks to release (the states’) claims for victim-specific relief’.”

The objection was filed by attorneys general of Arizona, California, Connecticut, Delaware, the District of Columbia, Hawaii, Illinois, Maryland, Minnesota, Mississippi, New York, Oregon, Pennsylvania, Tennessee, Utah and Vermont.

The settlement between the parties requires approval by U.S. District Judge Jed Rakoff, who has ordered JPMorgan and Epstein’s accusers to address the states’ objection by Nov. 6.

A hearing to consider final approval for the settlement is scheduled for Nov. 9.

“The settlement resolved claims that the largest U.S. bank turned a blind eye to Epstein’s sex trafficking because he had been a lucrative client between 1998 to 2013, when it terminated his accounts. Last month, JPMorgan agreed separately to pay $75 million to settle related claims by the U.S. Virgin Islands, where Epstein had a home.”

Meanwhile, things went much more smoothly with the German bank’s agreement with Epstein victims submitted to the same court.

The Guardian reported:

“Deutsche Bank on Friday won final approval from a US judge for a $75m settlement it reached with victims of Jeffrey Epstein who had accused the German company of facilitating the late financier’s sex trafficking.

The US district judge Jed Rakoff, who granted preliminary approval for the deal in June, signed off on the settlement during a court hearing in Manhattan.”

Read more about this:

JPMorgan Chase Settles Lawsuit with US Virgin Islands Over Jeffrey Epstein Ties for 75M

USVI Versus JPMorgan Chase: America’s Largest Bank Reported $1 BILLION in Suspicious Jeffrey Epstein Transactions to the US Treasury – But Only AFTER He Suspiciously Died in Prison While Awaiting Trial

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