Thursday, June 15, 2023

Settlement: Did you get your's? If not, maybe you should ask for reparations.

Settlement is a synonym for reparation in compensation topic. In some cases you can use "Settlement" instead a noun "Reparation", when it comes to topics like reimbursement.

JPMorgan Epstein Settlement

JPMorgan Chase agreed yesterday to pay $290M to dozens of victims of sexual predator Jeffrey Epstein to settle claims the bank knowingly supported the financier's crimes. The amount, if approved, would be one of the largest in a civil sex-trafficking case. 

 

The bank—America's largest—managed Epstein's accounts from 1998 until 2013, five years after he pleaded guilty to soliciting prostitution from a minor in Florida. A separate FBI investigation in 2019 alleged the financier—whose contacts included presidents, princes, and tech CEOs—recruited dozens of underage girls for sexual purposes between 2002 and 2005. Epstein died by suicide while awaiting trial in 2019. See an overview of Epstein here.

 

JPMorgan Chase denies liability in the case, with CEO Jamie Dimon suggesting former executive Jes Staley—a close friend of Epstein's—was to blame in a deposition last month. The bank faces similar claims in a separate lawsuit with the US Virgin Islands, where Epstein owned a private island. 

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