Wall Street is getting ready to move on from the Jeffrey Epstein saga. JPMorgan just agreed to fork out $75 million to the United States Virgin Islands over allegations that the giant bank helped facilitate the late sex offender’s human trafficking operations. The resolution adds to other hefty sums from a mess that also cost two prominent industry chief executives their jobs. Absent any further repercussions, however, the sordid affair will soon fade from financial memories, like so many others before it.
to fork out $75 million to the United States Virgin Islands over allegations that the giant bank helped facilitate the late sex offender’s human trafficking operations. The resolution adds to other hefty sums from a mess that also cost two prominent industry chief executives their jobs. Absent any, however, the sordid affair will soon fade from financial memories, like so many others before it.
In many ways, Epstein’s alleged wrongdoing was ickier than many previous scandals that have tainted the rich and powerful, whose transgressions have ranged from sexual escapades to misleading customers. He was accused of illegally transporting dozens of teenage girls and sexually exploiting them, using banks and well-heeled connections to move around the money he needed to fund the activity.
is paying out $75 million. Some financiers linked to Epstein, who killed himself while in jail awaiting trial in 2019, also paid a price.
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