Bank of America settles lawsuit brought by Jeffrey Epstein victims

Bank of America settles lawsuit brought by Jeffrey Epstein victims

Bank of America has settled a civil lawsuit brought by women who accused the financial institution of facilitating their sexual abuse by Jeffrey Epstein, courtroom data confirmed on Monday.

Lawyers for the financial institution and the women told Manhattan-based US District Judge Jed Rakoff in a March 12 phone name that that they had reached a “settlement in principle,” a courtroom submitting said. The phrases of the settlement weren’t instantly clear.

The settlement requires Rakoff’s approval. Lawyers for either side are scheduled to submit authorized papers about the settlement by March 27, and the decide scheduled a courtroom listening to for April 2 to contemplate approving the deal.

Bank of America has settled a civil lawsuit brought by women who accused the financial institution of facilitating their sexual abuse by Jeffrey Epstein. AP

Sigrid McCawley, a lawyer for the women, said in a press release, “Today’s resolution of the case against Bank of America is one more step on the road to much deserved justice.”

A spokesman for Bank of America declined to remark.

The proposed class action, filed in October by a lady utilizing the pseudonym Jane Doe, accused the nation’s second-largest financial institution of ignoring suspicious monetary transactions associated to Epstein despite a “plethora” of data about his crimes because it valued revenue over defending victims.

Bank of America has said Doe alleged merely that it offered routine companies to people who at the time had no recognized hyperlinks to Epstein, and that any suggestion that it was more deeply concerned was “threadbare and meritless.”

Rakoff dominated in January that Bank of America must face Doe’s claims that it knowingly benefited from Epstein’s intercourse trafficking and obstructed enforcement of the federal Trafficking Victims Protection Act. Among the transactions Doe flagged had been funds to Epstein by Apollo Global Management’s billionaire co-founder, Leon Black.

The proposed class action, filed in October by a lady utilizing the pseudonym Jane Doe, accused the nation’s second-largest financial institution of ignoring suspicious monetary transactions associated to Epstein. AP

Black stepped down as Apollo’s chief govt in 2021 after a review by an outdoor regulation agency discovered he had paid Epstein $158 million for tax and property planning.

He has denied wrongdoing and said he was unaware of Epstein’s legal conduct.

Black had been scheduled on March 26 to be questioned under oath by legal professionals for Doe and Bank of America.

Billionaire Leon Black had been scheduled on March 26 to be questioned under oath by legal professionals for Doe and Bank of America. REUTERS

The deposition just isn’t anticipated to go ahead because of the settlement. A scheduled May 11 trial will also not happen if Rakoff approves the settlement.

Doe’s legal professionals have also sued other alleged enablers of Epstein’s intercourse trafficking, and in 2023 reached settlements of $290 million with JPMorgan Chase and $75 million with Deutsche Bank on behalf of his accusers.

Epstein died in a Manhattan jail cell in August 2019 while awaiting trial on intercourse trafficking expenses. His dying was dominated a suicide by New York City’s medical examiner.

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