JPMorgan Chase and Deutsche Bank must face lawsuits that accuse them of enabling Jeffrey Epstein’s sex trafficking
, a US judge said Monday. The decision by US District Judge Jed Rakoff in Manhattan could expose the banks to additional financial and reputational damage for keeping Epstein as a client, even after the late financier registered as a sex offender. In a six-paragraph order, Rakoff said JPMorgan must face a lawsuit by the US Virgin Islands accusing it of missing red flags about Epstein’s abuse of women on Little St. James, a private island he owned there.
” Carol Thomas-Jacobs, the US Virgin Islands acting attorney general, said her office’s case would help ensure that banks act as “a first line of defense in identifying and reporting potential human trafficking, as the law expects.” The territory previously recovered more than $105 million from Epstein’s estate in a settlement in November, while in 2021 about 138 Epstein accusers were awarded more than $121 million from a compensation fund, also funded by the estate.
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