The US Virgin Islands has demanded that JPMorgan Chase pay a minimum of $190 million to settle a lawsuit that accuses the bank of neglecting Jeffrey Epstein’s sex trafficking activities. In a court filing on Friday, the territory stated that it seeks a $150 million civil fine from JPMorgan, along with at least $40 million from the bank’s 15-year association with Epstein. Additionally, the US Virgin Islands is seeking compensatory and punitive damages for Epstein’s victims. The territory argues that JPMorgan should be held accountable for providing banking services to Epstein from 1998 to 2013 due to its disregard for compliance with the law and preventing trafficking. JPMorgan has yet to respond to the requests for comment. This letter signifies the first time that the US Virgin Islands has assigned a monetary value to the sum it expects JPMorgan to pay for its involvement with Epstein. Notably, Epstein, who died by suicide in August 2019, owned two islands in the US Virgin Islands, one of which he allegedly used for illicit activities. A trial is scheduled for October 23.
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