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JP Morgan agrees to pay $290m to settle lawsuit brought by Jeffrey Epstein victims

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(picture BBC)

JP Morgan has agreed to pay roughly $290m (£232m) to settle a lawsuit brought on behalf of alleged victims of convicted sex offender Jeffrey Epstein.

Attorneys for the bank said it was “in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse”. The lawsuit had alleged the largest US bank ignored warning signs about its client during a 15-year relationship.

The agreement is subject to court approval.

JPMorgan Chase will not admit liability in the case, but upon the settlement’s approval the bank will put out a statement regretting its association with Epstein, David Boies, one of the victims’ attorneys, told CNN. “We all now understand that Epstein’s behaviour was monstrous,” lawyers for the bank said in a statement on Monday. “Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes.”

The settlement follows weeks of embarrassing revelations about the extent of JP Morgan’s relationship with the late financier.

Late last month, long-time chief executive Jamie Dimon provided a formal statement under oath for the case, in what turned out to be a day-long deposition from the bank’s headquarters in New York. Lawyers representing the unnamed accuser who filed the suit – identified only as Jane Doe 1 – asked a federal judge on Friday to allow them to take new testimony from Dimon. They also asked to reopen depositions for three other key witnesses in the case.

Another lawsuit filed against the bank late last year in federal court is still pending. That case was brought on behalf of the government of the US Virgin Islands, where Epstein owned a private island with a mansion. The financier kept hundreds of millions of dollars in more than 50 accounts at JP Morgan between 1998 and 2013, five years after he pleaded guilty to soliciting a minor for prostitution.

He was found dead at the age of 66 in a prison cell in 2019. New York City’s medical examiner ruled the death a suicide.

The Jane Doe 1 lawsuit said that JP Morgan “knowingly facilitated, sustained and concealed” the frequent cash withdrawals Epstein made to pay the young women he trafficked, while profiting from the deals and clients that the financier brought in.

The bank, which earlier failed to dismiss the dual suits, has countered that any civil liability should rest with Jes Staley, a former top executive who befriended Epstein.  Staley has said his former employer is trying to “deflect blame” for its own failures and sought to dismiss the claims, but the complaint against him remains active.

Last month, Deutsche Bank, where Epstein was a client after he left JP Morgan in 2013, settled for $75m with Epstein accusers.

To date, the Epstein estate has paid out more than $150m to more than 100 of his victims.

(BBC)



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Sri Lanka lose Women’s Champions Trophy hosting rights

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The change in venue could significantly impact the Sri Lanka side (Cricinfo)

The inaugural Women’s Champions Trophy, scheduled for February 2027, will be moved out of  Sri Lanka with the SLC set to be stripped of hosting rights. Cricinfo has confirmed that the six-team event will be played at a different venue in the same window, and it is likely to be held in India. The new hosts will be confirmed at the next ICC board meeting in October.

Sri Lanka have lost the right to stage the tournament, which was due to be their second ICC event in a year after they also co-hosted the 2026 men’s T20 World Cup, because of government interference in their board. The SLC has an interim administration, called the Transformation Committee, which was put in place by the Sri Lankan government and will oversee major board changes including to the constitution.

The ICC does not recognise politically appointed administrations and SLC representatives have not been at ICC board meetings since the Transformation Committee was put in place.

The change in venue could significantly impact the Sri Lanka side, who only qualified for the event by virtue of it being held in their country. The competition is limited to the top six teams on the ICC rankings and, as of the rankings update on Saturday, Sri Lanka are currently seventh. Australia, England, India, New Zealand and South Africa make up the top five. West Indies are sixth and would have originally missed out but if Sri Lanka do not qualify, then the Caribbean could sneak in.

This will be the second time in three years that Sri Lanka have lost out on an ICC event. In 2023, the 2024 men’s Under-19 World Cup was taken away from them  for the same reasons and moved to South Africa.

In any case, while the Transformation Committee is in charge, SLC’s electoral processes stand suspended. The Transformation Committee’s official task is to reform that very electoral system, and the Sri Lanka Cricket constitution in general. According to the country’s laws, this can only be done through parliament.

The Transformation Committee has said it has produced a fresh constitution which is expected to be taken up in parliament over the next few weeks. Members of that Transformation Committee told Cricinfo that it expects for SLC elections to take place before the end of 2026, so long as the parliamentary process runs smoothly.

(Cricinfo)

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Iran attacks US bases in Jordan after US strikes Larak Island

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Iran's IRGC says one of the two targets it attacked on Sunday was the Al Azraq base in Jordan, which hosts US air assets [File; Aljazeera]

Iran says it launched missiles at two US bases in Jordan following a US attack on Larak Island in southern Iran earlier on Sunday.

In a statement reported by Iranian news agencies on Sunday, the Islamic Revolutionary Guard Corps (IRGC) said the combined missile and drone operation, which it called “Punishment of the Aggressor”, hit the King Hussein and Al Azraq bases in Jordan.

The exchange of attacks is the first flare-up in violence between the two sides since late July.

The IRGC said the strikes “destroyed the technical and repair infrastructure, as well as the enemy fighter deployment sites”, inflicting significant damage.

Jordan reported intercepting eight missiles soon after the IRGC announced the attack.

“Air defence systems intercepted eight missiles that breached the Kingdom’s airspace at dawn today, Monday,” the Jordanian military said in a statement.

No injuries were reported at either base.

“Aggression and crimes will not solve the enemy’s desperation in attempting to weaken the Islamic Republic’s control over the Strait of Hormuz, and every attack will be met with even more devastating responses,” the IRGC statement said.

Tehran had promised to retaliate for Sunday’s US attack on Larak Island.

The strikes risk renewing the military confrontation as Washington shifts from its bombing campaign to a financial pressure strategy on Tehran, and as the US-Israel war on Iran enters its seventh month.

On Monday, the US military denied that its Sunday attacks were an “act of aggression”.

[Aljazeera]

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Sun directly overhead Neriyakulam, Punewa, Kebithigollewa, Pankulam and Sinhapura at about 12.10 noon today (31)

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The sun is going to be directly over the latitudes of Sri Lanka from  28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is overhead today (31) are Neriyakulam, Punewa, Kebithigollewa, Pankulam and Sinhapura about 12.10 noon.

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