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JPMorgan has reached an agreement to settle one of two lawsuits related to its dealings with Jeffrey Epstein, the bank’s former billionaire client accused of sex scandals.
The institution will pay $290 million to settle the case accusing it of having been involved in the business transactions in which Epstein was indicted.
The bank is still grappling with a lawsuit from the US Virgin Islands, where the financier had a private safehouse where he took several of his victims. JPMorgan is also facing a legal case against former private banking head Jes Staley, who the bank says should be held liable for damages it sustained due to his ties to Epstein.