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JPMorgan has agreed to pay $290 million to settle a class-action lawsuit from victims of Jeffrey Epstein – the famous American financier and sex offender.
The plaintiffs claimed that JPMorgan laundered the money and thus enabled sex trafficking on Epstein’s behalf while he was still a client of the bank.
JP Morgan Aiding Money Laundering?
A joint statement Victims’ advocates from the United States’ largest bank said Monday that the two groups “had reached an agreement in principle to settle the alleged class action lawsuit related to the crimes of Jeffrey Epstein.”
The settlement is subject to court approval, and will not include JPMorgan accepting liability in the matter. “The parties believe that this settlement is in the best interests of all parties, particularly the survivors who were victims of Epstein’s horrific abuse,” the statement read.
According to CNNDavid Bowes, one of the victims’ lawyers, said more than 100 women are expected to receive compensation for Epstein’s abuse. More victims filing through the Epstein victims’ compensation program are likely to be compensated following similar settlements with two other banks.
Victims’ advocates called the settlement “life-changing and historic,” noting how a major financial institution is participating in shutting down sex trafficking.
Sigrid McCawley, managing partner at Boies Schiller Flexner, said, “The money, which has flown with impunity for far too long between Jeffrey Epstein’s global sex trafficking enterprise and Wall Street’s major banks, decisively needs to be used for good.” Used to be.”
According to Boies, Epstein’s victims reached a $75 million settlement with Deutsche Bank, which is expected to have overlap with JPMorgan in victims it helps compensate.
How does bitcoin compare?
Bitcoin’s biggest critics often point to the blockchain as a lawless landscape that enables money laundering, Violation of sanctions, and terrorist financing. Last year, ex-Federal Reserve Chairman Ben Bernanke Claimed Bitcoin has no inherent value other than “ransomware, or something like that”.
However, data from Chainalysis shows that the proportion of bitcoin transactions fueling financial crime is falling over time. Furthermore, although there appears to be illegal crypto volume Emerging In absolute terms, the US Treasury Department has Confirmed When it comes to money laundering, the dollar remains king.
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JPMorgan has agreed to pay $290 million to settle a class-action lawsuit from victims of Jeffrey Epstein – the famous American financier and sex offender.
The plaintiffs claimed that JPMorgan laundered the money and thus enabled sex trafficking on Epstein’s behalf while he was still a client of the bank.
JP Morgan Aiding Money Laundering?
A joint statement Victims’ advocates from the United States’ largest bank said Monday that the two groups “had reached an agreement in principle to settle the alleged class action lawsuit related to the crimes of Jeffrey Epstein.”
The settlement is subject to court approval, and will not include JPMorgan accepting liability in the matter. “The parties believe that this settlement is in the best interests of all parties, particularly the survivors who were victims of Epstein’s horrific abuse,” the statement read.
According to CNNDavid Bowes, one of the victims’ lawyers, said more than 100 women are expected to receive compensation for Epstein’s abuse. More victims filing through the Epstein victims’ compensation program are likely to be compensated following similar settlements with two other banks.
Victims’ advocates called the settlement “life-changing and historic,” noting how a major financial institution is participating in shutting down sex trafficking.
Sigrid McCawley, managing partner at Boies Schiller Flexner, said, “The money, which has flown with impunity for far too long between Jeffrey Epstein’s global sex trafficking enterprise and Wall Street’s major banks, decisively needs to be used for good.” Used to be.”
According to Boies, Epstein’s victims reached a $75 million settlement with Deutsche Bank, which is expected to have overlap with JPMorgan in victims it helps compensate.
How does bitcoin compare?
Bitcoin’s biggest critics often point to the blockchain as a lawless landscape that enables money laundering, Violation of sanctions, and terrorist financing. Last year, ex-Federal Reserve Chairman Ben Bernanke Claimed Bitcoin has no inherent value other than “ransomware, or something like that”.
However, data from Chainalysis shows that the proportion of bitcoin transactions fueling financial crime is falling over time. Furthermore, although there appears to be illegal crypto volume Emerging In absolute terms, the US Treasury Department has Confirmed When it comes to money laundering, the dollar remains king.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
