The JPMorgan Chase logo is seen at its headquarters in New York City, May 26, 2023.
Michael M. Santiago | Getty Images
A US judge on Thursday approved JPMorgan ChaseA $290 million settlement with women who said Jeffrey Epstein abused them, and the largest US bank turned a blind eye to the late financier’s sex trafficking.
US District Judge Jed Rakoff gave final approval to the deal at a hearing in Manhattan federal court. He used to be given prior approval on the deal in June, calling it a “really good settlement.”
Settlement covered by more than 100 womenled by a former ballet dancer known as Jane Doe 1, who said Epstein abused them.
It followed embarrassing disclosure that JPMorgan ignored internal warnings and ignored red flags about Epstein because he had become an important client.
Epstein was a JPMorgan client from 1998 to 2013. The bank retained him even after he was arrested in 2006 on prostitution charges and pleaded guilty two years later.
JPMorgan did not admit wrongdoing in agreeing to settle.
JPMorgan in September agreed to pay $75 million to settle related claims of the US Virgin Islands, of which Epstein owns two islands.
Rakoff on Oct. 20 gave final approval in a similar $75 million settlement between Epstein’s accusers and Deutsche Bank (DBKGn.DE)where Epstein banked after JPMorgan fired him.
Epstein died in a Manhattan jail cell in 2019 at the age of 66 while awaiting trial on sex trafficking charges. The New York City medical examiner ruled the death a suicide.
Ghislaine Maxwell, Epstein’s ex-girlfriend and longtime partner, is serving a 20-year prison term after being convicted in December 2021 of recruiting and grooming teenage girls for his abuse. He is appealing his conviction.
