JPMorgan Chase benefited financially from Jeffrey Epstein’s sex trafficking operation while failing to report the convicted pedophile’s suspicious activities, a new lawsuit has heard.
The U.S. Virgin Islands government alleged that JPMorgan Chase allowed the disgraced financier to funnel money between its various front companies, which financed his illicit activities there, in the lawsuit filed Tuesday in federal court in Manhattan.
Epstein owned a huge property on Little Saint James, dubbed ‘Pedophile Island’, and was forced to register as a sex offender in the Virgin Islands after pleading guilty to soliciting prostitution from a minor in Florida in 2008.
He died by suicide in his Manhattan jail cell while awaiting trial on federal sex trafficking charges in 2019.
“For more than a decade, JPMorgan was clear that it was not complying with federal regulations regarding accounts linked to Epstein, as evidenced by its too little too late efforts following Epstein’s arrest on federal sex trafficking charges and little long after his death, when JPMorgan belatedly complied with federal law,” according to the complaint.
“Human trafficking was the primary activity of the accounts Epstein maintained at JPMorgan,” the lawsuit said. “JPMorgan knowingly, negligently and unlawfully provided and operated the levers by which recruiters and victims were paid and was indispensable to the operation and concealment of Epstein’s trafficking business.”
The Post has sought comment from JPMorgan Chase. The co-executors of Epstein’s estate – New York lawyer Darren Indyke and accountant Richard Kahn – were not immediately available for comment.
JPMorgan Chase provided high-end banking services to Epstein before the investment giant ended the relationship in 2013.
“Pedophile Island” was reportedly visited by celebrities and well-heeled friends of Epstein. It is also said to have been the scene of a litany of sex crimes involving victims as young as 12.
Epstein and his convicted friend Ghislaine Maxwell procured the girls with promises of financial support and help scoring modeling gigs, among other perks.
In June, Maxwell was sentenced to 20 years in prison for her role in the sex trafficking operation.
The latest filing from the U.S. Virgin Islands alleged that Epstein “used his wealth and power to create the Epstein business, which engaged in a pattern of criminal activity by repeatedly recruiting and subjugating girls and youths. underage women to illegal sexual behavior, sex trafficking and forced labor.”
Epstein “recruited” and “forced” the girls and women to “marry other victims of Epstein in order to maintain their immigration status and availability for Epstein,” according to the filing.
Kahn and Indyke “authorized or directed numerous transactions in JP Morgan accounts held by Epstein or related entities,” according to the court filing.
Last month, the office of U.S. Virgin Islands Attorney General Denise N. George announced a $105 million settlement with Epstein’s estate.
As part of the deal, the estate will sell the two private islands once owned by the late pedophile – Little Saint James and Great Saint James – to independent third parties.
“This settlement restores the faith of the people of the Virgin Islands that their laws will be enforced, without fear or favor, against those who break them. We send a clear message that the Virgin Islands will not serve as a haven for human trafficking,” George said.
“Through this lawsuit and settlement, the Attorney General’s Office, acting on behalf of the government, is using its authority to enforce the laws of the Virgin Islands against criminal enterprises and to protect public safety.”
Earlier this month, two other women who claim to have been victimized by Epstein filed suit against his estate. At least 10 other alleged victims have filed a lawsuit against the estate.