JPMorgan Chase is prepared to pay $290 million in a settlement with victims of the late sexual predator Jeffrey Epstein, a person familiar with the matter told CNBC on Monday.The settlement does not include an admission of liability by the bank, the person said.related investing news 2 hours agoThe announcement of the settlement came just hours before a judge ruled that the case in U.S. District Court in Manhattan can proceed as a class-action lawsuit. The bank did not include details about the agreement in that announcement. The person familiar with the deal requested anonymity to discuss the details of the settlement.”The parties in Jane Doe 1 v. JPMorgan Chase Bank, N.A. have informed the Court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes, which is subject to court approval,” the bank said in a news release earlier Monday morning.”The parties believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein’s terrible abuse,” JPMorgan added.The settlement announcement comes one month after Deutsche Bank, where Epstein became a client after he was forced out by JPMorgan in 2013, settled with Epstein victims for $75 million. JPMorgan’s litigation with the U.S. Virgin Islands is ongoing.Monday’s settlement stems from claims filed last year by an unnamed woman, using the pseudonym Jane Doe, that the bank knowingly benefited from and facilitated Epstein’s sex trafficking operation. The woman, who alleges she was raped and trafficked, sued on behalf of a “large number” of other victims of that operation.”We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man,” JPMorgan said in a separate statement Monday morning.”Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” the bank said.Brad Edwards, an attorney for the lead plaintiff in the case, lauded the “enormously valuable” support the Virgin Isl …
