JPMorgan Chase settled a court case with victims of Jeffrey Epstein for approximately $290 million. The bank had been fighting to prevent CEO Jamie Dimon from testifying in the court case and lost. Dimon was on the hook to testify but now he will not.
The case was brought by a group of women who claim to have been victims of Epstein. They claimed that the bank knew about Epstein’s illegal activity and turned a blind eye. Deutsche Bank settled its side of this case last month for $75 million.
Dimon has continued to say that he did not know Epstein well but like other Epstein associates, that story has not held up well. This settlement will prevent further details from coming to light as no further testimony or depositions will be moved along.
It is worth noting that U.S. taxpayers are helping to pay this settlement. Follow this money trail: In March, the U.S. government bailed out the failing First Republic Bank. It then transferred all assets from First Republic to JPMorgan Chase. This asset transfer amounts to public money moved over to private money and now that lucky recipient is using some of that private money to settle the Epstein case. It’s all legal but it sure doesn’t sit well, does it?
