The victims of disgraced financier Jeffrey Epstein formally asked a U.S. federal judge in New York late Thursday to approve a $290 million settlement with JPMorgan Chase over allegations that the bank turned a “blind eye” toward Epstein’s conduct and continued to finance him.
Attorneys for the victims said the cash settlement is “within the range of reasonable resolutions” and is “adequate, and in the best interests” of their clients, according to a memorandum filed in the case in the U.S. District Court for the Southern District of New York.
The request comes after the Epstein victims and the Wall Street giant agreed last week to resolve a suit filed in federal court last year by a woman identified as “Jane Doe 1,” who alleged the bank enabled Epstein’s sex trafficking enterprise.
The unnamed woman sued on behalf of a large number of Epstein victims. A judge overseeing the case ruled last week that it could move forward as a class-action lawsuit.
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Epstein, who was convicted in 2008 of procuring a person under 18 for prostitution, was a JPMorgan Chase client for 15 years until the bank severed ties with him in 2013.
He died by suicide in 2019 at a New York City correctional center, where he was being held on federal sex-trafficking charges.
