Bank of America has agreed to pay $72.5 million to settle a lawsuit brought on behalf of victims of Jeffrey Epstein, who accused the bank of facilitating his sex trafficking operation. The proposed class-action lawsuit was filed in October by a Florida woman who says she was abused by Epstein between 2011 and 2019 and held two accounts at Bank of America at the direction of his business team.
Bank of America's Alleged Role in Epstein's Operation
The lawsuit alleged that Bank of America had 'a plethora of information regarding Epstein's sex trafficking operation but chose profit over protecting the victims.' The woman, identified as 'Jane Doe,' said she met Epstein in Russia in 2011 and was controlled and sexually abused by him until his death in jail in August 2019. She called his death, which was ruled a suicide, her 'ultimate escape.'
Bank of America Denies Wrongdoing
In court documents, Bank of America said the settlement makes 'no admission of liability' or 'wrongdoing' on its part. The bank had previously urged the court to dismiss the lawsuit, saying it had provided routine services to people who at the time had no known links to Epstein, calling the complaint 'threadbare and meritless.'
While we stand by our prior statements made in the filings in this case, including that Bank of America did not facilitate sex trafficking crimes, this resolution allows us to put this matter behind us and provides further closure for the plaintiffs.
The settlement was reached earlier this month, but details of the deal had not been revealed until documents were filed on Friday in a federal court in New York. They now await a judge's approval.
Third Major Bank to Settle Epstein-Related Lawsuit
The settlement marks the third such agreement by a major bank, after JP Morgan Chase and Deutsche Bank agreed to pay out $290 million and $75 million, respectively, in similar lawsuits related to their dealings with Epstein.
- Bank of America settles lawsuit for $72.5 million
- Lawsuit accused bank of facilitating Epstein's sex trafficking
- Settlement makes no admission of liability or wrongdoing
Frequently Asked Questions
- How much did Bank of America agree to pay in the Epstein lawsuit settlement?
- Bank of America agreed to pay $72.5 million to settle the lawsuit brought on behalf of victims of Jeffrey Epstein.
- Did Bank of America admit to any wrongdoing in the settlement?
- No, the settlement makes no admission of liability or wrongdoing on the part of Bank of America.
- Which other banks have settled lawsuits related to Jeffrey Epstein?
- JP Morgan Chase and Deutsche Bank have also settled lawsuits related to their dealings with Jeffrey Epstein, agreeing to pay $290 million and $75 million, respectively.
