Capital Economy, Business and Finance
JPMorgan Chase has agreed settlements with former executive Jes Staley and the US Virgin Islands to resolve lawsuits over its banking relationship with the deceased sex offender Jeffrey Epstein. The US bank agreed to pay $75 million to the USVI – less than half the $190 million the territory had sought – and reached a confidential agreement with Staley to resolve its claims against him. Ariel Smith, the US Virgin Islands’ attorney general, said the settlement should “sound the alarm on Wall Street” about banks’ responsibilities to prevent human trafficking. JPMorgan said the agreement does not involve admissions of liability but it “deeply regrets” any association with Epstein.
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