Jeffrey Epstein got $300 mln in US Virgin Islands tax incentives, JPMorgan says.

JPMorgan Chase said the US Virgin Islands gave Jeffrey Epstein more than $300 million in tax incentives and waived sex offender monitoring requirements, shielding the disgraced late financier as he gave cash and gifts to top officials.

JPMorgan Chase has accused the US Virgin Islands of granting Jeffrey Epstein, the late disgraced financier, over $300 million in tax incentives and waiving sex offender monitoring requirements. This alleged shielding enabled Epstein to freely distribute cash and gifts to high-ranking officials.

The largest US bank made these allegations in an unredacted version of a previous filing in Manhattan federal court on Tuesday night. The filing serves as JPMorgan's defense against a lawsuit brought by the US territory regarding its association with Epstein, who was a client of the bank from 1998 to 2013.

The US Virgin Islands, where Epstein owned two neighboring islands, has accused JPMorgan of facilitating his sex crimes by providing banking services and enabling payments to his victims.

Epstein's death by suicide in a Manhattan jail cell in August 2019 occurred while he was awaiting trial on sex trafficking charges. Prior to that, in 2008, he had pleaded guilty to a prostitution charge in Florida and registered as a sex offender.

The recent allegations by JPMorgan shed light on the potential preferential treatment and financial benefits Epstein received from the US Virgin Islands, raising further questions about the extent of his influence and connections within the territory. The bank's claims suggest that Epstein's financial dealings and purported misconduct were aided by the favorable treatment he received from local authorities.

The lawsuit between JPMorgan and the US Virgin Islands continues, as both parties seek to present their arguments and evidence. This legal battle serves as a reminder of the complex web of connections surrounding Jeffrey Epstein and the ongoing investigations into the extent of his illegal activities and those who may have enabled him.