- JPMorgan Chase (JPMC) has reached a settlement with the U.S. Virgin Islands (USVI) in the amount of $75 million regarding its lawsuit linked to Jeffrey Epstein, the convicted sex offender. Both parties disclosed the settlement in separate press releases on Tuesday.
- As part of the agreement, JPMorgan will make a payment of $55 million to the USVI, with an additional $20 million designated for attorney fees, as stated in JPMorgan’s press release.
- Of the $55 million payment, JPMorgan will allocate $30 million to charitable organizations in the USVI, particularly those dedicated to combating human trafficking and sex crimes. Additionally, JPMorgan will contribute $25 million to enhance the USVI’s law enforcement capabilities, aiding in the fight against human trafficking.
