JPMorgan Chase offered $1 million to a former investment banker to settle sexual assault and harassment claims weeks before he filed a lawsuit with lurid allegations that have captivated Wall Street, according to people familiar with the matter. The bank’s offer was aimed at preventing the public spectacle that has since unfolded.
"We did try to reach an agreement to avoid the time and expense of litigation and to support an employee who was being threatened with the very reputational harm now unfolding," a JPMorgan spokesman said in a statement. "We continue to believe these allegations have no merit and new information raised as a result of the public filing only reinforces that conclusion.”
The bank extended the $1 million offer in March 2026 during mediation talks, but former vice president Chirayu Rana rejected it, the people said. In April, his lawyers countered with a demand for $11.75 million. Rana was let go from his subsequent job at private-equity firm Bregal Sagemount on April 2, shortly before the counter-offer was made.
The case offers a rare look into the high-stakes negotiations over sensitive employee allegations, where companies may offer substantial sums to avoid reputational damage, even when they believe claims are baseless. The subsequent viral spread of the lawsuit, amplified by AI-generated videos and high-profile podcasters, illustrates the exact risk JPMorgan sought to mitigate.
The Allegations and Denials
In his lawsuit, Rana, 35, alleges that Lorna Hajdini, 37, an executive director at the bank, coerced him into non-consensual sex acts, often using racial slurs and threatening his career. The suit claims Hajdini told him, "If you don't f--- me soon, I'm going to ruin you... Never forget, I f---ing own you."
Hajdini has categorically denied all claims. Through her lawyers, she stated she "never dated this individual, never had a sexual or romantic encounter with him of any kind and never gave him any drugs." Her attorneys maintain the claims are "entirely fabricated and tarnishing her reputation." JPMorgan has also stated that its internal investigation, which included reviewing emails and phone records, found no evidence to support the allegations and that Hajdini was not in Rana's direct reporting line, meaning she had no authority over his compensation.
A Timeline of Events
Rana joined JPMorgan's leveraged finance team in May 2024. He filed an internal complaint alleging discrimination and assault in May 2025 and was placed on paid leave. He left the bank and started at Bregal Sagemount in October 2025. After being let go from Bregal in April 2026, his lawyers filed the lawsuit under a pseudonym, which was later refiled with his name, bringing the allegations to public light.
This article is for informational purposes only and does not constitute investment advice.
