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JP Morgan agrees to pay $290m to settle lawsuit brought by Jeffrey Epstein victims
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)
Latest News
Voting closes in Iceland’s knife-edge EU referendum
Voting has closed in Iceland’s referendum on resuming membership negotiations with the European Union.
Voting stations closed on Saturday, but it could take several hours for a clear victory for either the “yes” or “no” camp to emerge.
The referendum does not have exit polls, and ballot counting only began once voting stations closed.
Polling suggests the vote is on a knife wdge, with different surveys putting either side narrowly ahead, but none straying more than a few points from an even 50/50 split.
The vote comes 13 years after Iceland, then led by a Eurosceptic government, paused EU accession talks.
The country is currently governed by the pro-EU Social Democratic Alliance, which called the vote and promised to honour whatever the Icelandic public decides.
If Icelanders vote “yes”, the country would likely start years of negotiations with Brussels to hammer out membership terms. It would then hold a second referendum on whether to formally become part of the EU.
Security, the relatively sluggish Icelandic economy, and the future of the Icelandic currency, the krona, have all been significant themes in the run-up to the vote
(Aljazeera)
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Sun directly overhead Mannar, Periyamadu, Puliyankulam, Welioya and Pulmoddai about 12.11 noon today (30)
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 (30) are Mannar, Periyamadu, Puliyankulam, Welioya and
Pulmoddai about 12.11 noon.
Latest News
Thirty-six naval personnel pass out on successful completion of Marine training
Thirty-six (36) naval personnel completed an eight-month Basic Marine Qualification Course and received their Marine insignia at the main parade ground of SLNS Vidura in Sampur, Trincomalee today, (29 August 2026).
At the invitation of Commandant SLNS Vidura, Captain Ravindu Harischandra, the ceremony was graced by Rear Admiral Buddhika Liyanagamage, Deputy Chief of Staff of the Navy and Commander Eastern Naval Area.
The group, comprising 3 officers and 33 sailors, completed the 10th intake of the Basic Marine Qualification Course, after volunteering for the demanding training programme.
In recognition of exceptional performance during the training, trophies were presented to outstanding personnel. Lieutenant (S) VPA Sasanka was awarded trophies for Best Marine of the Course, Highest Aggregate in Overall Subjects, and Best Marksman.
Physical Training Instructor WMGDP Bandara received the trophy for Best Physical Fitness. Addressing the newly qualified personnel,
Rear Admiral Liyanagamage congratulated them on successfully completing the course. He urged them to use the skills and experience gained through their training to contribute to safeguarding the country’s sovereignty and territorial integrity.
He also called on them to apply the courage and determination developed during the course both in their professional and personal lives, and to remain prepared to meet any challenge faced by the country.
He stressed the importance of keeping their knowledge and training up to date and maintaining constant vigilance while carrying out their duties.
Rear Admiral Liyanagamage also expressed his appreciation to
the Commanding Officer of SLNS Vidura and the directing staff for their contribution to the successful completion of the course.
The insignia ceremony also included a demonstration showcasing the capabilities and skills of the Sri Lanka Navy Marine.
Rear Admiral Achala Silva, Director General Logistics; Rear Admiral Kusal Dissanayake, Commandant Naval Infantry; Commodore Sanjeewa Kodikara, Director Marine; officers
from Navy Headquarters and the Eastern Naval Area; senior officers from the Army, Air Force and Police; and parents of the newly passed out marine personnel attended the ceremony.
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