The U.S. Virgin Islands said it wants JPMorgan Chase to pay at least US$190 million, and possibly much more, to resolve its lawsuit accusing the largest U.S. bank of ignoring the disgraced late financier Jeffrey Epstein's sex trafficking.
In a Friday filing in federal court in Manhattan, the territory said it wants JPMorgan to pay a US$150 million civil fine, and give up at least $40 million from its 15-year relationship with Epstein.
The territory wants JPMorgan held liable for providing banking services to Epstein from 1998 to 2013, enabling him to pay his victims, and ignoring internal warnings and other red flags because it valued him as a wealthy client. JPMorgan agreed last month to pay US$290 million to settle a lawsuit by dozens of Epstein accusers, while Deutsche Bank, where Epstein was also a client, agreed in May to a $75 million settlement. Both accords await final court approval.
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