Posts

jp morgan

JPMorgan Reaches $290 Million Settlement For Jeffrey Epstein Victims 

JPMorgan Chase has agreed to pay $290 million in settlement money for a class-action lawsuit from Jeffrey Epstein’s sexual abuse victims. The victims had accused the company of enabling sex trafficking from Epstein when he was a client, according to one of the victims’ attorneys David Boies. 

In a joint statement from JPMorgan and the attorneys for the victims, they stated that they “have informed the court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes.” 

Embed from Getty Images

Boies told CNN that “the agreement is subject to court approval. Under terms of the settlement, JPMorgan Chase will not admit liability in the case, but upon the settlement’s approval the bank will put out a statement regretting its association with Epstein.”

“The settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse,” according to the joint statement.

“It’s hard to say how many victims will ultimately benefit from the settlement funds, but more than 100 women are expected to seek compensation. Many women who filed a claim with Epstein’s estate through the Epstein Victims’ Compensation Program are likely to be included in the two pending bank settlements,” Boies said.

“Money, which for far too long flowed with impunity between Jeffrey Epstein’s global sex trafficking enterprise and Wall Street’s leading banks, is decisively being used for good. The settlements signal that financial institutions have an important role to play in spotting and shutting down sex trafficking,” said Sigrid McCawley, managing partner at the firm Boies Schiller Flexner. 

Embed from Getty Images

“It has taken a long time, too long, but today is a great day for Jeffrey Epstein survivors, and a great day for justice.”

Federal Judge Jed Rakoff, who is hearing the case, approved a class of eligible victims defined as “all women who were sexually abused or trafficked by Jeffrey Epstein during the time when JP Morgan maintained [accounts] for Epstein and/or Epstein-related entities. That period runs from January 1, 1998, through August 19, 2013, as well as the subsequent period until his death on August 10, 2019.”

There is also ongoing litigation still pending between JPMorgan and the US Virgin Islands, where Epstein’s home was located. Additionally, the bank is continuing to pursue its case against Jes Staley, a former JPMorgan executive who is cited in the lawsuit as someone who’s largely responsible for the bank’s relationship with Epstein for 15 years. 

“The information and support the US Virgin Islands and its legal team provided to the survivors was enormously valuable, and we recognize the importance of the government’s continued litigation against JPMorgan Chase to prevent future crimes,” Brad Edwards, the victims’ attorney, told CNN.

“The US Virgin Islands will continue to proceed with its enforcement action to ensure full accountability for JPMorgan’s violations of law and prevent the bank from assisting and profiting from human trafficking in the future. The attorney general’s office is committed to protecting women and girls who could otherwise become victims going forward,” a spokesperson for the US Virgin Islands’ attorney general said.

Astroworld Victims’ Families Reject Travis Scott’s Offer To Cover Funeral Costs 

Travis Scott’s offer to pay for the funeral costs of Astroworld victims has been rejected by half of the bereaved families. One of them is the family of nine-year-old Ezra Blount, who was the youngest of the 10 victims who lost their lives from the Texas music festival. 

Scott made the offer last week after multiple lawsuits against him, his team, livenation, and others involved in the festival were filed. A lawyer for the family of 14-year-old John Hilgert responded to the offer recently to the media: 

“The gesture is demeaning and inappropriate. Of all the things this case is about, the cost of the funeral is the least of any concern. This family is set on making change, and ensuring this never happens at a concert again.” 

On Friday November 5th, a crowd surge occurred during Scott’s set at Astroworld. There were around 50,000 people attending the festival in Houston’s NRG Park Complex. 

Embed from Getty Images

Ten individuals have now lost their lives due to the surging that occurred at the event, the oldest of which was just 27-years-old. Blount died nine days after the concert after being placed in a medically induced coma due to the severity of his injuries. 

Scott’s lawyer, Daniel Petrocelli, wrote to the nine-year-old’s family the day after the funeral, offering to pay for the entire service. 

“Travis is devastated by the tragedy that occurred at the Astroworld Festival and grieves for the families whose loved ones died or were injured. Travis is committed to doing his part to help the families who have suffered and begin the long process of healing in the Houston community. Toward that end, Travis would like to pay for the funeral expenses for Mr Blount’s son,” the letter read.

The family’s lawyer, Bob Hilliard, immediately declined the offer on behalf of the Blount family with a letter:

“I have no doubt Mr. Scott feels remorse. His journey ahead will be painful. He must face and hopefully see that he bears some of the responsibility of this tragedy.” 

Embed from Getty Images

Other families have called out Scott, and claimed that the rapper’s offer was simply to repair his public image, and if he actually cared about his fans, this wouldn’t have happened in the first place. 

Philip Corboy, the lawyer for the families of Jacob Jurinek and Franco Patino, 21-year-old best friends who were at the concert together, said Scott’s approach to make amends through his legal team leaves the impression “that all he’s trying to do is lessen the public outcry against him.”

“If he’s trying to impress upon the families that he’s sincere and has concern for them and realize that funerals can be expensive, what Soctt’s team did is not the way to do it,” Corboy continued.

“You don’t get a piece of paper in the mail from a lawyer in Beverly Hills who says he represents Travis Scott. These families are raw right now; that lacks any personal touch.”

Tony Buzbee, who represents the family of Axel Acosta (21), also publicly questioned Scott’s motives in choosing to make the announcement that he would pay for the funeral costs through a “press release that everyone could see.” 

“He says he feels sorry for them but he’s quick to say it wasn’t his fault. He’s no different than any defendant pointing fingers to someone else. They don’t want funeral expenses from him. Whatever we get from him we’re going to get through the court system,” Buzbee exclaimed.