JPMorgan said Tuesday that $US55 million ($85.8 million) of the settlement will go toward local charities and assistance for victims. Another $US20 million ($31.2 million) will go toward legal fees.
The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation has revealed that the financial services giant enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise”.
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Epstein died by suicide in a federal jail in 2019.
