JP Morgan makes huge payment to settle Jeffrey Epstein lawsuit

JPMorgan Chase has reached a settlement with the U.S. Virgin Islands and a former executive in regards to lawsuits involving disgraced billionaire financier Jeffrey Epstein, The New York Times reported.

The company said the $75 million payment includes $30 million to support charitable organizations, $25 million to strengthen law enforcement to combat human trafficking, and $20 million for attorney's fees, according to Reuters.

"While the settlement does not involve admissions of liability, the firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes," JPMorgan said.

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Read the full report over at The New York Times.