JPMorgan Chase Bank and the U.S. Virgin Islands announced recently that they’ve reached a settlement of $75 million to address claims linked to the alleged sex-trafficking activities of the late financier, Jeffrey Epstein. This announcement arrives a few weeks before the trial was set to begin in the Southern District of New York. More details of the announcement were covered by the New York Law Journal.
The settlement includes several key elements, including a $30 million allocation to support USVI charities working against human trafficking and sex crimes. $25 million is earmarked for bolstering anti-trafficking efforts by law enforcement in the region. The settlement also accounts for $20 million in attorney fees.
A notable portion of this settlement is aimed at strengthening efforts in the U.S. Virgin Islands to combat human trafficking, shedding light on the gravity of this issue.