JPMorgan agrees to settle with Epstein victims

JPMorgan Chase & Co. on Monday said it reached a tentative settlement with the victims of convicted sex offender Jeffrey Epstein.

"The parties believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse," JPMorgan said, according to Reuters.

The proposal would settle a case filed in Manhattan federal court in November by an anonymous woman on behalf of Epstein's victims, which could potentially be more than 100 women, The New York Times reported.

The original complaint said that the bank ignored red flags in Epstein's financial activity because he was valued as a wealthy client.

The settlement was reached for an undisclosed sum. 

Epstein reportedly at one point had at least $120 million in assets with the bank. He committed suicide in a Manhattan jail cell in August 2019 while awaiting trial on sex-trafficking charges.  

Madeleine Hubbard is an international correspondent for Just the News. Follow her on Twitter or Instagram.