JPMorgan Flags $1B Worth of Transactions Related to Jeffrey Epstein and Human Trafficking

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U.S. Virgin Islands says JPMorgan knew of Jeffrey Epstein’s criminal activities. Read on for the latest updates. 

The ongoing scandal surrounding the late Jeffrey Epstein’s crimes continues to make headlines even after his death. JPMorgan, one of the world’s largest banks, recently notified the U.S. Treasury Department of over $1 billion in transactions related to human trafficking by Epstein dating back 16 years. The news came from a hearing in which the U.S. Virgin Islands is seeking damages from the bank for allegedly continuing to do business with Epstein despite repeated red flags and his guilty plea in 2008.

Seeking justice

Epstein was a wealthy financier and convicted sex offender who allegedly trafficked and abused dozens of underage girls and young women over several years. His connections to powerful people, including politicians, businessmen, and celebrities, have fueled speculation of a vast network of enablers and protectors.

Epstein was arrested in 2019 and died in his jail cell, supposedly by suicide, while awaiting trial. Since then, his victims, as well as authorities and the public, have been seeking justice and accountability for those who played a role in his crimes.

U.S. Virgin Islands demands $190 million from JPMorgan

The recent claim that JPMorgan flagged $1 billion in transactions related to human trafficking by Epstein adds to the mounting evidence of the bank’s involvement in his activities. The U.S. Virgin Islands, which is suing the bank for damages, claims that JPMorgan continued to do business with Epstein despite being aware of the multiple red flags surrounding him and his crimes.

This accusation is similar to the allegations made by victims in the settlement reached by JPMorgan in July. The bank agreed to pay $290 million to settle a lawsuit filed by one of Epstein’s accusers in Manhattan federal court, but denied any wrongdoing.

It’s important to note that the U.S. Virgin Islands’ case against JPMorgan is focused on the bank’s liability for abetting Epstein’s abuse of women and not necessarily on his trafficking of underage girls. The Virgin Islands is seeking at least $190 million in damages, with the trial set to begin on Oct. 23 if a summary judgment isn’t granted. JPMorgan’s defense is that the territory has no standing to sue on behalf of Epstein’s victims and that there is no proof that any of his victims were residents of the Virgin Islands.

Regardless of the specifics of this case, the fact that such a powerful institution as JPMorgan is being held accountable for its actions regarding Epstein is significant. It sends a message that even those with immense resources and influence are not above the law and can be held responsible for their complicity in heinous crimes.

Additionally, this news raises questions about the role of banks and financial institutions in enabling human trafficking and other forms of exploitation. It’s critical that these institutions take their due diligence and responsibility seriously in order to prevent such atrocities.

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