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☆ Terraform Labs and founder Do Kwon found liable in US civil fraud trial
▼ + stars: | 2024-04-05 | by ( ) edition.cnn.com time to read: +4 min

Kwon designed TerraUSD and Luna, a more traditional token that fluctuated in value but was closely linked to TerraUSD. The SEC is seeking civil financial penalties and orders barring Kwon and Terraform from the securities industry. Kwon falsely attributed the recovery to the reliability of TerraUSD’s algorithms, according to the regulator. Earlier in the case, Terraform argued that securities laws did not apply to the cryptocurrencies it developed. After a final judgment in the case, Terraform will be able to challenge that ruling on appeal.

Persons: Kwon, Terraform’s blockchain, Luna, Jed Rakoff, Terraform, Gurbir Grewal, ” Grewal, ”, Laura Meehan, ” Meehan, Terraform’s, Louis Pellegrino, ” Pellegrino, Rakoff Organizations: Labs, US Securities and Exchange Commission, SEC, SEC Division Locations: Manhattan, Singapore, Montenegro, United States, South Korea

☆ Judge Approves JPMorgan’s $290 Million Settlement With Epstein Victims
▼ + stars: | 2023-11-09 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

A federal judge on Thursday approved a settlement of a class-action lawsuit in which JPMorgan Chase will pay $290 million to sexual abuse victims of Jeffrey Epstein who claimed that the bank ignored warnings about the disgraced financier. The money being paid by JPMorgan, the nation’s biggest bank, could provide compensation to nearly 200 victims of Mr. Epstein, according to a legal filing. JPMorgan and lawyers for the victims reached a preliminary settlement in June, averting a potential civil trial in federal court in Manhattan. The judge, Jed Rakoff, gave final approval to the deal after holding an afternoon hearing to assess the fairness of the settlement to the victims. Some, including one who said she was just 13 when Mr. Epstein first sexually assaulted her, wrote about continuing to suffer from depression, anxiety, panic attacks and eating disorders.

Persons: Jeffrey Epstein, Epstein, Jed Rakoff Organizations: JPMorgan Chase, JPMorgan Locations: Manhattan

☆ US judge to weigh JPMorgan's $290 million settlement with Epstein accusers
▼ + stars: | 2023-11-09 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

The settlement covered more than 100 women, led by a former ballet dancer known as Jane Doe 1, who said Epstein abused them. It followed embarrassing disclosures that JPMorgan ignored internal warnings and overlooked red flags about Epstein because he had been a valuable client. JPMorgan in September agreed to pay $75 million to settle related claims by the U.S. Virgin Islands, where Epstein owned two islands. Rakoff on Oct. 20 gave final approval to 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 age 66 while awaiting trial on sex trafficking charges.

Persons: Morgan, Stephanie Keith, JPMorgan Chase's, Jeffrey Epstein, Jed Rakoff, Epstein, Rakoff, Jane Doe, Sarah Ransome, Ghislaine Maxwell, Epstein's, Luc Cohen, Daniel Wallis Organizations: REUTERS, JPMorgan, Washington D.C, U.S ., Deutsche Bank, US, Islands, Thomson Locations: New York City, U.S, Manhattan, Washington, U.S . Virgin Islands, Rakoff, New York

☆ JPMorgan's $290 million settlement with Epstein accusers wins approval by U.S. judge
▼ + stars: | 2023-11-09 | by ( ) www.cnbc.com time to read: +1 min

A U.S. judge on Thursday approved JPMorgan Chase 's $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier's sex trafficking. U.S. District Judge Jed Rakoff granted final approval to the deal at a hearing in Manhattan federal court. He had previously granted preliminary approval to the deal in June, calling it a "really fine settlement." JPMorgan in September agreed to pay $75 million to settle related claims by the U.S. Virgin Islands, where Epstein owned two islands. Rakoff on Oct. 20 gave final approval to a similar $75 million settlement between Epstein's accusers and Deutsche Bank (DBKGn.DE), where Epstein banked after JPMorgan fired him.

Persons: JPMorgan Chase, Jeffrey Epstein, Jed Rakoff, Jane Doe, Epstein, Ghislaine Maxwell, Epstein's Organizations: JPMorgan Chase, JPMorgan, U.S ., Deutsche Bank Locations: New York City, U.S, Manhattan, U.S . Virgin Islands, Rakoff, New York

☆ JPMorgan settlement with Epstein accusers draws objection from US states
▼ + stars: | 2023-10-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

They also said Deutsche Bank's (DBKGn.DE) similar $75 million agreement with Epstein's accusers did not contain the offending language. Lawyers for Epstein's accusers did not immediately respond to similar requests. He ordered JPMorgan and Epstein's accusers to address the states' objection by Nov. 6. Epstein died in August 2019 in a Manhattan jail cell while awaiting trial for sex trafficking. The case is Doe 1 v JPMorgan Chase & Co, U.S. District Court, Southern District of New York, No.

Persons: Mike Segar, JPMorgan Chase's, Jeffrey Epstein's, Epstein, Raul Torrez, Jed Rakoff, Jonathan Stempel, Lisa Shumaker Organizations: JPMorgan Chase, Co, REUTERS, JPMorgan, D.C, Deutsche, New, of, U.S, U.S ., JPMorgan Chase & Co, Court, Southern District of, Thomson Locations: New York, U.S, Manhattan, Washington, New Mexico, Arizona , California , Connecticut, Delaware, of Columbia, Hawaii , Illinois, Maryland, Minnesota , Mississippi , New York , Oregon , Pennsylvania, Tennessee , Utah, Vermont, U.S . Virgin Islands, York, Southern District, Southern District of New York

☆ US judge approves Deutsche Bank $75 million settlement with Epstein accusers
▼ + stars: | 2023-10-20 | by ( Luc Cohen | ) www.reuters.com time to read: +2 min

NEW YORK (Reuters) -Deutsche Bank on Friday won final approval from a U.S. judge for a $75 million settlement it reached with victims of Jeffrey Epstein who had accused the German company of facilitating the late financier’s alleged sex trafficking. FILE PHOTO: The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. Epstein had been a Deutsche Bank client from 2013 to 2018, after being a JPMorgan Chase client for 15 years. Deutsche Bank has said it made an error in taking on Epstein as a client. Rakoff granted preliminary approval to New York-based financial services company JPMorgan’s $290 million settlement over similar claims in June.

Persons: Jeffrey Epstein, Tyrone Siu, Jed Rakoff, ” Rakoff, Epstein, Jane Doe, David Boies, Rakoff Organizations: YORK, Deutsche Bank, Friday, Deutsche, REUTERS, U.S, JPMorgan Chase, JPMorgan, U.S . Virgin Locations: U.S, Hong Kong, China, Manhattan, York, New York

☆ US SEC cannot appeal Ripple Labs decision, judge rules
▼ + stars: | 2023-10-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. Torres said Rakoff had been considering Terraform’s motion to dismiss the SEC case, and was required to accept all reasonable inferences in the regulator’s favor. A trial in the Ripple case is scheduled for April 23, 2024. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Dado Ruvic, Analisa Torres, Torres, Jed Rakoff, Rakoff, Brad Garlinghouse, Chris Larsen, Ripple Organizations: YORK, U.S . Securities, Exchange Commission, Ripple Labs, REUTERS, District, SEC, U.S, Terra, Binance, Court, Southern District of Locations: Manhattan, U.S, Southern District, Southern District of New York

JPMorgan did not admit any wrongdoing in the settlement, which will give $55 million to Virgin Islands charities and the American territory's anti-trafficking efforts. The remaining $20 million will cover attorneys' fees incurred by the Virgin Islands as part of the litigation in federal court in New York. The Virgin Islands said the deal "includes several substantial commitments by JPMorgan Chase to identify, report, and cut off support for potential human trafficking, including establishing and implementing comprehensive policies and procedures." Virgin Islands Attorney General Ariel Smith said the agreement settles what was the first enforcement action against a bank for facilitating and profiting from human trafficking. The Virgin Islands previously obtained a $105 million settlement from Epstein's estate, and another $62.5 million from billionaire investor Leon Black to resolve potential claims related to Epstein.

Persons: JPMorgan Chase, Jeffrey Epstein, Ghislaine Maxwell, Rod Stewart, Cipriani, Joe Schildhorn, Patrick McMullan, Jes Staley, Epstein, Staley, Ariel Smith, Smith, Boies Schiller Flexner, Stephanie Keith, Leon Black, Jamie Dimon, Jed Rakoff, Virgin Organizations: JPMorgan, U.S . Virgin, Virgin Islands, Virgin, Barclays Plc, Bloomberg, Getty Images Bloomberg, Getty, Treasury Department Locations: New York, New York City, U.S, Manhattan, Virgin, Epstein's, Florida

☆ USVI says JPMorgan notified Treasury of more than $1 billion in suspicious Jeffrey Epstein transactions after he died: Report
▼ + stars: | 2023-09-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

"JPMorgan was a full-service bank for Jeffrey Epstein's sex trafficking," Liu said at the hearing, Bloomberg reported. Epstein, 66, killed himself in a New York jail in August 2019, a month after he was arrested on federal child sex trafficking charges. In addition to a residence in Manhattan, Epstein owned a private island in the Virgin Islands, where he was accused of sexually abusing women. A lawyer for JPMorgan, which denies wrongdoing in the case, pushed back against the Virgin Islands claims that it should be found liable for abetting Epstein's abuse of women. The Virgin Islands is seeking at least $190 million in damages in the case, which will go to trial on Oct. 23 if Rakoff does not grant summary judgment to either side.

Persons: Jeffrey Epstein, Rick Friedman, JPMorgan Chase, Epstein, Mimi Liu, Jed Rakoff, Liu, Jeffrey Epstein's, Epstein's Organizations: Corbis, Getty, JPMorgan, Treasury Department, U.S . Virgin Islands, Daily, Virgin, Bloomberg, Virgin Islands Locations: Cambridge, Virgin, U.S, Manhattan, Florida, New York

☆ JPMorgan processed more than $1 bln for Epstein, US Virgin Islands says
▼ + stars: | 2023-09-01 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Caitlin Ochs//File Photo Acquire Licensing RightsNEW YORK, Aug 31 (Reuters) - A lawyer for the U.S. Virgin Islands said on Thursday that JPMorgan Chase (JPM.N) told U.S. authorities it processed more than $1 billion for Jeffrey Epstein over 16 years. The U.S. Virgin Islands, where Epstein owned two private islands, is suing JPMorgan for at least $190 million and likely much more, saying it ignored red flags that Epstein was running a sex trafficking operation because he was a lucrative client. JPMorgan has denied knowing that Epstein was running a sex trafficking operation, and has faulted the territory for having a cozy relationship with him. "JPMorgan was a full service bank for Jeffrey Epstein's sex trafficking," Liu said. Ellsworth also disputed the U.S. Virgin Islands' claim that JPMorgan obstructed investigations into Epstein, saying the bank had asked federal authorities about their own probes into his conduct.

Persons: Caitlin Ochs, U.S . Virgin Islands, JPMorgan Chase, Jeffrey Epstein, Mimi Liu, Epstein, Liu, Jed Rakoff, Jeffrey Epstein's, Felicia Ellsworth, Ellsworth, Rakoff, Rakoff preliminarily, Luc Cohen, Noeleen Walder, Grant McCool Organizations: JPMorgan Chase Bank, REUTERS, U.S . Virgin, JPMorgan, U.S, U.S . Treasury Department, Reuters, Treasury, U.S ., Department, Deutsche Bank, Thomson Locations: New York City, U.S, U.S . Virgin Islands, Manhattan, New York

A customer browses Apple watches at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. REUTERS/Lucy Nicholson/file photo Acquire Licensing RightsCompanies Apple Inc FollowNEW YORK, Aug 21 (Reuters) - Apple (AAPL.O) on Monday won the dismissal of a lawsuit claiming that the blood oxygen sensor on its Apple Watch exhibits "racial bias" against people with darker skin tones. U.S. District Judge Jed Rakoff in Manhattan dismissed the proposed class action with prejudice, meaning it cannot be brought again. Doctors have long known that pulse oximeters, which help assess potential heart and respiratory problems, are less accurate in estimating blood oxygen of non-white patients. The case is Morales v Apple Inc, U.S. District Court, Southern District of New York, No.

Persons: Apple, Lucy Nicholson, Jed Rakoff, Alex Morales, Morales, Jonathan Stempel, Andy Sullivan Organizations: Apple, REUTERS, Monday, Apple Watch, Apple Inc, Court, Southern District of, Thomson Locations: Los Angeles , California, U.S, Manhattan, Manhattan's, Southern District, Southern District of New York, New York

Jamie Dimon, chairman of the board and chief executive of JPMorgan Chase & Co., speaks during the event Chase for Business The Experience - Miami hosted by JP Morgan Chase Bank for small business owners at The Wharf in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File PhotoNEW YORK, Aug 9 (Reuters) - A federal judge has dismissed a shareholder lawsuit accusing JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon and his board of directors of ignoring red flags surrounding disgraced former client Jeffrey Epstein. The so-called derivative lawsuit sought to have the defendants or their insurers pay damages to JPMorgan, for the benefit of shareholders. Rakoff is also overseeing two Epstein-related lawsuits against JPMorgan by the U.S. Virgin Islands, where the financier owned two neighboring islands, and by Epstein victims. Staley was also Barclays' (BARC.L) chief executive from 2015 to 2021.

Persons: Jamie Dimon, JP, Marco Bello, JPMorgan Chase, Jeffrey Epstein, Jed Rakoff, Rakoff, Epstein, Dimon, Jes Staley, Staley, Jonathan Stempel, Leslie Adler Organizations: JPMorgan Chase &, Chase, Business The, Miami, JP Morgan Chase Bank, REUTERS, JPMorgan, Rakoff, U.S ., Barclays, Miami General Employees & Sanitation Employees, Court, Southern District of, Thomson Locations: Miami , Florida, U.S, Miami, Pittsburgh, Manhattan, U.S . Virgin Islands, U.S . Virgin, Southern District, Southern District of New York, New York

REUTERS/Andrew Kelly/File PhotoNEW YORK, Aug 9 (Reuters) - The U.S. Securities and Exchange Commission plans to appeal a recent court decision involving Ripple Labs that was a setback for the agency's efforts to oversee cryptocurrency markets. The SEC said an appeal could address legal issues on which there was "substantial ground for differences of opinion." Torres' decision was not a total victory for Ripple, as she found that it violated securities laws by selling XRP to institutional investors. The judge must decide whether to let the SEC appeal her decision, and put the case on hold. Ripple, and lawyers for Ripple, Garlinghouse and Larsen did not immediately respond to requests for comment.

Persons: Andrew Kelly, Analisa Torres, Ripple, Brad Garlinghouse, Chris Larsen, Torres, Jed Rakoff, Larsen, Gary Gensler, Coinbase, Jonathan Stempel, Chris Prentice, Jody Godoy, Chris Reese, Lisa Shumaker, Diane Craft Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Ripple Labs, SEC, U.S, District, Terra, Terraform Labs, Thomson Locations: Washington ,, Manhattan, U.S, Gensler, New York

☆ CNBC Daily Open: Market bears refuse to concede
▼ + stars: | 2023-08-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on July 26, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The slightly tighter labor market, in combination with companies holding on to workers, reinforce the possibility of cooling inflation without a recession. Securities, actuallyCryptocurrencies are considered securities regardless of how they are sold, U.S. District Judge Jed Rakoff said on Monday.

Persons: Dow, Donald Trump, Joe Biden, That's, Jed Rakoff, JPMorgan Chase Organizations: New York Stock Exchange, CNBC, Dow Jones, Labor Department, Trump Former U.S, Trump, Securities, Securities and Exchange Commission, Terraform Labs, JPMorgan, Nvidia, Microsoft Locations: New York City, U.S

NEW YORK, July 31 (Reuters) - Terraform Labs and its founder, Do Kwon, must face fraud allegations brought by the U.S. Securities and Exchange Commission, a federal judge ruled on Monday. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled crypto markets around the world last year. A spokesperson for Terraform Labs said the company "will continue to fight the SEC's misguided and deeply flawed allegations and legal theories." SEC attorneys in the Terraform Labs case have said that part of the ruling by Torres was wrongly decided and that SEC staff are exploring ways to have it reviewed. The case is SEC v. Terraform Labs Pte Ltd. et al., No.

Persons: Do Kwon, Kwon, Jed Rakoff, TerraUSD, Rakoff, Analisa Torres, Torres, Jody Godoy, Will Dunham, Grant McCool, Leslie Adler Organizations: YORK, Terraform Labs, U.S . Securities, Exchange Commission, U.S, SEC, U.S ., UST, Labs, District, Court, Southern District of, York, Thomson Locations: Manhattan, U.S, Southern District, New York

☆ Some crypto assets are securities, Manhattan judge says, complicating Coinbase and Ripple cases
▼ + stars: | 2023-08-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A Manhattan federal judge said in an opinion that cryptocurrencies are considered securities regardless of how they are sold. U.S. District Judge Jed Rakoff's decision Monday complicates SEC's litigation with both Ripple and crypto exchange Coinbase. The Ripple ruling was considered a win by the industry because it said a cryptocurrency may or may not be a security depending on who's buying it. The SEC has argued in cases against Binance, Coinbase and Kraken that many cryptocurrencies listed on popular exchanges are securities. The SEC has pursued numerous other crypto firms over the alleged unregistered offer and sale of securities, including Coinbase , Gemini and Genesis.

Persons: Hon Chang, joon, Kwon, cryptocurrencies, Jed Rakoff's, Coinbase, Rakoff, — CNBC's Lora Kolodny Organizations: UST, Securities and Exchange Commission, Terraform Labs, U.S, SEC, Binance Locations: Podgorica, Montenegro, Manhattan

☆ The legal debate on whether cryptocurrencies are subject to SEC rules just got more complicated
▼ + stars: | 2023-08-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

A federal judge said the SEC has plausible reason to see Terraform's crypto as a security. This goes against another judge's decision last month that said XRP was not a security in some cases. The separate findings complicate the regulatory outlook for the crypto industry. Last month's finding in the Ripple case was followed by a rally throughout the crypto industry, as investors celebrated some clarity over the nature of digital tokens. This opposing legal view adds new confusion for crypto investors and further uncertainty concerning other SEC lawsuits.

Persons: XRP, Jed Rakoff, Kwon, Rakoff, Analisa Torres, Binance, Gary Gensler Organizations: SEC, Service, US, Securities and Exchange Commission, Bloomberg Locations: Wall, Silicon

☆ U.S. Virgin Islands seeks at least $190 million from JPMorgan Chase in Jeffrey Epstein case
▼ + stars: | 2023-07-14 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

The government of the U.S. Virgin Islands in a court filing Friday estimated that it will seek damages of at least $190 million from JPMorgan Chase in a lawsuit accusing the big bank of facilitating sex trafficking by its former long-time customer Jeffrey Epstein. The Virgin Islands also said it wants an order requiring JPMorgan to take a series of steps to protect young women and girls from other predators in the future. The filing says the Virgin Islands wants at least $150 million in civil penalties alone. JPMorgan in its own court filings has accused the Virgin Islands itself of being "complicit in the crimes of Jeffrey Epstein." Last month in the same court where the Virgin Islands is suing the bank JPMorgan agreed, without admitting wrongdoing, to pay $290 million to victims of Epstein to settle a suit by one of his accusers.

Persons: Jeffrey Epstein, Epstein, Jed Rakoff, Jeffrey Epstein's, JPMorgan Chase, Ariel Smith, Smith, Patricia Wexler, JPM, Virgin, Sergey Brin, Bill Gates, Lex Wexner, Glenn Dubin, Donald Trump, Bill Clinton, Prince Andrew of Great Organizations: New York State Division, Criminal, Services, Reuters, U.S . Virgin, JPMorgan Chase, Virgin, JPMorgan, Virgin Islands, Google, Microsoft, Limited Brands, Deutsche Bank, New York state's Department of Financial Services Locations: U.S, Manhattan, United States, Virgin, Eastern, Prince Andrew of Great Britain, Florida, New York

☆ How Jeffrey Epstein turned the US Virgin Islands into a pedophile's playground and helped elect a sitting member of Congress
▼ + stars: | 2023-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +21 min

Court filings show how Jeffrey Epstein exerted power in the US Virgin Islands, two of which he owned. A financier worth hundreds of millions of dollars, Epstein owned two islands in the US Virgin Islands (there are roughly 50 islands overall). He had donated generously to Democratic politicians from the US Virgin Islands for years. With the assistance of the US Virgin Islands' first lady, Epstein navigated the territory's political waters unscathed. The court records show that, at least in the US Virgin Islands, he exerted influence with little friction.

Persons: Jeffrey Epstein, Stacey Plaskett, —, Plaskett, Epstein, James, Lesley Groff, Scott Applewhite, Stacey, Thomas, didn't, Groff, maxed, Shawn, Michael Malone, Gabriel Lopez Albarran, Cecile de Jongh, John de Jongh Jr, de Jongh, Malone, De Jongh, Darren Indyke, Richard Kahn, Kahn, Groff didn't, Stuart McPhail, McPhail, Jeffrey Epstein's, Erika Kellerhals, Hi Jeffrey, Rick Friedman, Corbis, de, JPMorgan Chase, Ghislaine Maxwell, Epstein's, Maxwell, She's, Mary Erdoes, Jamie Dimon's, Jes Staley, Epstein's thrall, Jongh, Denise George, Albert Bryan Jr, Bryan, Jed Rakoff, Emily Michot, Bill Clinton, Donald Trump, Prince Andrew, Trump's, De, Epstein doled, John de Jongh's, Kenneth Mapp, John de Jongh, John, wasn't Organizations: Virgin Islands, Service, Democratic, US, Islands, Democratic Congressional, AP, Federal, Commission, Democratic Party, Virgin Islands Economic Development Authority, Southern Trust Co, de, Indyke, Democrat, Getty Images JPMorgan, US Virgin Islands, JPMorgan, Virgin, Hyperion, Barclays, Authorities, United States Virgin Islands, Virgin Islands Senate, Gov, New York Times, US Virgin, Deutsche Bank, U.S ., Miami Herald, Tribune, Getty, Federal Government, Mapp's PAC Locations: Virgin, Washington, Puerto Rico, Little St, Palm Beach , Florida, St, Croix, Manhattan, Islands, US Virgin, New York, U.S, U.S . Virgin Islands, Jongh, Tortola

"This is a really fine settlement," Rakoff said. Epstein had been a JPMorgan client from 1998 through 2013, when the bank terminated his accounts. JPMorgan in a statement this month said any association it had with Epstein "was a mistake and we regret it." Rakoff appointed Simone Lelchuk, a lawyer who specializes in administering settlements, to consider individual claims and determine payouts in the JPMorgan and Deutsche Bank cases. JPMorgan is also facing a lawsuit over Epstein by the U.S. Virgin Islands, where the financier owned two neighboring islands.

Persons: Morgan Chase, Mike Segar, Jeffrey Epstein, Jed Rakoff, Rakoff, Epstein, Jane Doe, David Boies, Boies, Simone Lelchuk, Luc Cohen, Jonathan Stempel, Matthew Lewis Organizations: Co, New York City, REUTERS, JPMorgan Chase's, U.S, Deutsche Bank, JPMorgan, U.S ., Thomson Locations: New York, U.S, Manhattan, Florida, Russia, Eastern Europe, U.S . Virgin Islands

Representatives for Hermes and Rothschild did not immediately respond to requests for comment on the decision. Hermes said in a filing in March that Rothschild continued to market his NFTs after the jury's verdict. Rothschild told the court that Hermes' request went "far beyond what is appropriate in a case, like this one, that involves artistic expression." Rakoff largely granted Hermes' request, but decided not to order Rothschild to transfer the tokens out of an "abundance of caution" for 1st Amendment concerns. The case is Hermes International v. Rothschild, U.S. District Court for the Southern District of New York, No.

Persons: Hermes, Mason Rothschild's, Birkin, Jed Rakoff, Rothschild's, Rakoff, Rothschild, Sonny Estival, Gerald Ferguson, Deborah Wilcox, Oren Warshavsky, Rhett Millsaps, Christopher Sprigman, Mark McKenna, Rebecca Tushnet, Lex Lumina, Jonathan Harris, Adam Oppenheim, Harris St, Laurent, Wechsler Read, Blake Brittain Organizations: Hermes, Constitution, . Rothschild, Southern, of, Baker, Hostetler, Thomson Locations: Manhattan, U.S, . Rothschild , U.S, of New York, Washington

Epstein had been a JPMorgan client from 1998 and 2013 when the bank terminated his accounts. Lawyers for the victims plan to seek up to 30% of the settlement amount for legal fees, court records show. The victims' lawyers also represented Epstein victims in a similar $75 million settlement with Deutsche Bank (DBKGn.DE), where Epstein was also a client. JPMorgan also faces a lawsuit over Epstein by the U.S. Virgin Islands, where Epstein owned two neighboring islands. The case is Doe 1 v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Persons: Morgan Chase, Mike Segar, Jeffrey Epstein's, Epstein, Jan, Jed Rakoff, Jane Doe, JPMorgan, Rakoff preliminarily, Jes Staley, Staley, Jonathan Stempel, Jahnavi, Robert Birsel Organizations: Co, New York City, REUTERS, JPMorgan Chase's, U.S, JPMorgan, Deutsche Bank, Barclays, Reuters, U.S ., JPMorgan Chase Bank NA, Court, Southern District of, Thomson Locations: New York, U.S, Manhattan, U.S . Virgin Islands, Southern District, Southern District of New York, Bengaluru

☆ Dimon may have ordered JPMorgan's review of Epstein ties, Virgin Islands says
▼ + stars: | 2023-06-20 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

NEW YORK, June 20 (Reuters) - JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon may have ordered a 2019 review of the bank's relationship with the late financier and sex offender Jeffrey Epstein, the U.S. Virgin Islands said. The U.S. Virgin Islands lawsuit is scheduled for an Oct. 23 trial in Manhattan federal court. It referred to a 22-page summary of emails primarily between and among Epstein, Staley and others. A spokesperson for the Virgin Islands said the bank's senior executives "ignored the evidence of Jeffrey Epstein's crimes." JPMorgan is suing Staley to cover its losses in the U.S. Virgin Islands' and Epstein victims' lawsuits.

Persons: JPMorgan Chase, Jamie Dimon, Jeffrey Epstein, Epstein, Jes Staley, Dimon, Staley, Jed Rakoff, Lehman Brothers, Jeffrey Epstein's, Luc Cohen, Nupur Anand, Matthew Lewis Organizations: YORK, JPMorgan, U.S . Virgin, Jeep, Virgin Islands, Barclays, Thomson Locations: U.S, Manhattan, U.S . Virgin Islands, Florida, New York

U.S. District Judge Jed Rakoff in Manhattan on Friday denied "in its entirety" the U.S. Virgin Islands' request to again have Dimon and another JPMorgan employee testify under oath. The territory, where Epstein owned two neighboring islands, is seeking damages from JPMorgan for allegedly ignoring Epstein's sexual abuses and letting him set up a sex trafficking operation there. Epstein was a JPMorgan client from 1998 until the bank terminated him in 2013. Dimon said he did not recall discussing Epstein's accounts at the time, and had barely heard of Epstein until his July 2019 arrest. The case is U.S. Virgin Islands v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Persons: Jamie Dimon, JPMorgan Chase, Jeffrey Epstein, Jed Rakoff, Epstein, U.S . Virgin Islands, Jeffrey, Dimon, Jes Staley, Staley, Jonathan Stempel, Jonathan Oatis Organizations: YORK, JPMorgan, U.S . Virgin, U.S, Barclays, Virgin, JPMorgan Chase Bank NA, Court, Southern District of, Thomson Locations: U.S, Manhattan, Southern District, Southern District of New York, New York

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