JPMorgan Settlement on WPEC 12
On Tuesday, JPMorgan agreed to pay $75 million to the U.S. Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by the now deceased Michael Epstein.
The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation revealed that the bank enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise.
As is often the case when local media outlets need an expert to discuss sex trafficking and sexual abuse cases, WPEC Channel 12 called GOLDLAW’s Chief Legal Officer, Spencer Kuvin, who has represented nine of Epstein’s victims over the years.
In an interview with reporter Luli Oritz, Kuvin spoke about many aspects of the settlement.
On the significance of the settlement:
“This is the first settlement by a government entity. What they were alleging is that JPMorgan Chase was utilizing government entities and government benefits and funds, in order to sexually traffic victims to their country.”
On his continued advocacy for victims:
“As a victims advocate, I had always said that without all of his support, both financial as well as people’s support, like the women that supported him and his operation, he would have never been able to abuse the victims that he did.”
The settlement averted a trial that had been set to start next month. JPMorgan had already agreed to pay $290 million in June in a class-action lawsuit that involved victims of Epstein’s trafficking crimes.
Spencer’s interview also appeared on these outlets:
WPEC TV Segment – CBS12 News at 11:00pm (9/26)
WPEC TV Segment – CBS12 News This Morning at 4:30am (9/27)
