The U.S. Virgin Islands sued JPMorgan in December, and about a month later, lawyers for Mr. Epstein’s victims had sued the bank.
The money the bank is paying to the Virgin Islands, where Mr. Epstein had a private island residence for roughly two decades, will mostly go toward funding charitable causes in the U.S. territory in the Caribbean and paying lawyer fees.
Mr. Epstein killed himself in a federal jail in Manhattan in August 2019, a month after he had was arrested on federal sex trafficking charges.
Mr. Epstein had been a client of JPMorgan both before and after he pleaded guilty in 2008 to a charge of soliciting prostitution from a teenage girl and had to register as a sex offender in New York, Florida and the Virgin Islands.
The parties, however, took issue with how each side had characterized some of the terms of the settlement in their respective news releases.
Persons:
Epstein
Organizations:
U.S . Virgin Islands, JPMorgan
Locations:
U.S, Caribbean, Manhattan, New York , Florida, Virgin