JPMorgan agrees to a $75 million settlement on Jeffrey Epstein lawsuit

JPMorgan Chase & Co (NYSE: JPM) has agreed to a $75 million settlement with the U.S. Virgin Islands on a lawsuit related to its association with Jeffrey Epstein.

JPM did not admit to wrongdoing

U.S. Virgin Islands had accused the financial services behemoth in its lawsuit of benefitting from the now-dead predator’s sex-trafficking ring.

But JPMorgan continues to endure that it was not involved in any way in the atrocities of its client – even though it did agree to pay to settle the case today.

On Tuesday, the investment bank also reiterated its regret on letting Jeffrey Epstein be a client for about fifteen years from 1998 to 2013.

Of the $75 million, JPM will pay $20 million to recompense the U.S. Virgin Islands for attorney fees. Shares of JPMorgan Chase & Co are down about 1.0% this morning.

JPMorgan also settled with Jes Staley today

JPMorgan Chase & Co revealed to have settled with Jes Staley as well on Tuesday.

Staley is its former executive and a friend of Jeffrey Epstein who the bank had previously claimed responsible for damages and costs related to the sex-trafficking case.

Terms of that agreement with Jes Staley were not disclosed, though. Earlier this year, the financial services company had also settled with the victims of Jeffrey Epstein for $290 million as Invezz reported here.

The settlement arrives only weeks before JPM is scheduled to report its Q3 results. Consensus is for it to earn $3.81 a share versus $3.12 per share a year ago.