US Virgin Islands calls for $190M from JPMorgan in Jeffrey Epstein case

The US Virgin Islands stated it needs JPMorgan Chase to pay a minimum of $190 million to resolve a lawsuit accusing the biggest US financial institution of ignoring the disgraced late financier Jeffrey Epstein’s sex trafficking.

In a Friday submitting in federal court docket in Manhattan, the territory stated it needs JPMorgan to pay a $150 million civil tremendous, and hand over a minimum of $40 million from its 15-year relationship with Epstein.

It additionally needs JPMorgan to pay compensatory damages suffered by Epstein’s victims, in addition to punitive damages.

A big payout is suitable as a result of JPMorgan “lacked the financial incentive and motivation to put compliance with the regulation and prevention of trafficking forward of its personal income,” the territory’s lawyer stated within the submitting.

JPMorgan didn’t instantly reply to requests for remark.

Friday’s letter marks the primary time the US Virgin Islands has put a greenback determine on any sum it needs JPMorgan to pay for relationship with Epstein.

The territory needs JPMorgan held accountable for offering banking companies to Epstein from 1998 to 2013, enabling him to pay his victims, and ignoring inner warnings and different pink flags as a result of it valued him as a rich shopper.

Epstein, who died by suicide in August 2019, had owned two neighboring islands inside the territory, together with one which authorities stated he purchased to maintain individuals from spying on him as he sexually abused younger ladies and women on the opposite.

A trial is scheduled for Oct. 23.