U.S. Virgin Islands Seeks $190 Million From JPMorgan in Epstein Lawsuit
Summary
Patricia Wexler, a JPMorgan spokeswoman, said, “This document does not reflect the nature of settlement conversations.” She also said the Virgin Islands’ legal theories were “not well founded and are being challenged by JPM in court.” The bank, in court papers, has argued that the Virgin Islands government did little itself to deter any illegal activity carried out by Mr. Epstein on his private island residence off St. Thomas. JPMorgan Chase has already agreed to pay $290 million to settle a class-action lawsuit filed last year on behalf of Mr. Epstein’s many sex abuse victims. The lawsuit filed by the Virgin Islands is tentatively scheduled for an October trial in federal court in Manhattan. The Virgin Islands said on Friday that its lawsuit is fashioned as an enforcement action against the bank and that it is entitled to the sizable relief to compensate it and deter future conduct by the bank. The $190 million includes penalties and the disgorgement of fees earned from business that the Virgin Islands claims Mr. Epstein directed to JPMorgan.