In a new court filing it has been revealed settlement talks between the US Virgin Islands, and JPMorgan have failed, over the amount the US Virgin Islands was demanding. According to the filing, the Virgin Islands demanded the investment bank pay at least $190 million to settle charges it aided Epstein’s criminal activities.

The territory demanded JPMorgan forfeit at least $40 million in profits it made off its 15-year relationship with the late billionaire, accused of sex trafficking, as well as pay a $150 million civil penalty, according to the petition filed Friday in a Manhattan federal court.

The demands also required the bank to separate its business and compliance functions, hire a dedicated compliance expert, and pay additional damages to make up for the damage to Epstein’s victims.

In a statement, JPMorgan said that it had made every attempt to settle the case, however the filing, “does not reflect the nature of settlement conversations.” It further added that the territory’s claims were “misdirected” and “not well founded.”

The Virgin Islands are seeking to hold JPMorgan accountable for providing banking services to Jeffrey Epstein from 1998 to 2013, which he used to facilitate his criminal activities, all as the bank ignored internal alerts and other warning signs due to Epstein’s prominence as a client.

The territory noted that the $40 million figure ignores the more “difficult to quantify” value Epstein provided to the bank by connecting JPMorgan to prominent figures such as former Israeli Prime Minister Ehud Barak, and Britain’s Prince Andrew.

The trial is scheduled to begin October 23rd.

Epstein owned two different islands in the Virgin Islands, located next to each other. Local officials claim he purchased one in order to prevent people from spying on him as he sexually assaulted young girls on the other, where he resided.

Epstein was found dead of an apparent suicide in August of 2019.