Yes, a settlement was reached between JPMorgan Chase and Jeffrey Epstein's victims, resulting in a $290 million payment to be distributed among the survivors. Additionally, Deutsche Bank agreed to pay $75 million to victims in a separate, earlier settlement. These deals, approved by federal judges in 2023, aimed to resolve claims that the banks were complicit in Epstein's sex-trafficking scheme by continuing to do business with him despite warnings of his activities.
JPMorgan Chase Settlement
Amount: $290 million
Purpose: To compensate sexual abuse victims of Jeffrey Epstein and resolve claims that JPMorgan failed to act on warnings about his sex trafficking activities.
Approval: A federal judge granted final approval of the settlement in November 2023.
Deutsche Bank Settlement
Amount: $75 million
Purpose: To settle a lawsuit accusing Deutsche Bank of enabling and benefiting from Epstein's sex trafficking.
Approval: This "groundbreaking" settlement was approved in May 2023.
Key Takeaways
These settlements are part of a broader effort by Epstein's victims to secure financial restitution by pursuing lawsuits against financial institutions that worked with him.
The JPMorgan settlement also helps to fund the distribution process, with any remaining funds to be donated to a charity.
These deals resolve class-action lawsuits brought by victims, not the criminal case that led to Epstein's 2019 arrest and his eventual death in jail.