US Virgin Islands Makes New Accusations Against JP Morgan Over Ties To Jeffrey Epstein

(RTTNews) - In a recent development, the US Virgin Islands has leveled fresh accusations against JP Morgan (JPM) regarding its association with the late disgraced financier, Jeffrey Epstein. The allegations include claims of JP Morgan executives discussing Epstein's penchant for surrounding himself with "nymphettes." The accusations were revealed in Monday night filings in a Manhattan federal court.

In response, JP Morgan fired back, accusing the US Virgin Islands of sharing responsibility for Epstein's sexual abuse of young women and teenage girls. The bank alleges that the territory facilitated visas that allowed Epstein to bring his victims and turned a blind eye to his actions whenever he arrived at local airports accompanied by young women and girls.

The legal battle stems from the US Virgin Islands' lawsuit against JP Morgan, seeking at least $190 million in damages. The territory claims that the bank ignored warning signs about Epstein's activities due to his status as a wealthy and profitable client from 1998 to 2013. The trial is scheduled for October 23, and the US Virgin Islands is seeking a declaration from the judge that JP Morgan participated in Epstein's sex trafficking and obstructed law enforcement.

The filings by the US Virgin Islands contain new revelations about JP Morgan's alleged conduct, including over $25 million in payments to Epstein's associate, Ghislaine Maxwell, as well as hundreds of thousands of dollars given to Epstein's victims. The documents also cite a September 2012 email from a senior JP Morgan executive to Mary Erdoes, the bank's current asset and wealth management chief, making a disturbing comparison between a client's house and Epstein's residence.

JP Morgan, on the other hand, is seeking a declaration from the judge that the US Virgin Islands should not be entitled to monetary relief and that the territory's claim of obstruction of law enforcement should be rejected. The bank has previously accused the US Virgin Islands of maintaining a cozy relationship with Epstein, granting him tax breaks and waiving sex-offender monitoring requirements in exchange for financial favors and gifts.

Notably, the US Virgin Islands has already received more than $105 million from Epstein's estate and reached a settlement with billionaire Leon Black, a former associate of Epstein. JP Morgan has also settled a separate lawsuit with dozens of Epstein accusers, agreeing to pay $290 million.

Jeffrey Epstein died by suicide in August 2019 in a Manhattan jail while awaiting trial for sex trafficking charges. The case continues to unravel with new details emerging and both sides presenting their arguments in court.