- Bank of America has agreed to pay $72.5 million to settle a class-action lawsuit brought by women who accused the bank of facilitating Jeffrey Epstein's sex trafficking operation.
- The lawsuit alleged that Bank of America financially benefited from Epstein's activities and failed to report suspicious payments, ignoring "red flags" about his sex-trafficking venture.
- According to Business Insider, Bank of America stated that the deal allows it to "put this matter behind us and provides further closure for the plaintiffs," while continuing to deny wrongdoing.
- This proposed settlement, which requires a judge's approval, would compensate "all women who were sexually abused or trafficked by Jeffrey Epstein" between June 2008 and July 2019.
- As Reuters reported, the class-action suit, filed by a woman using the pseudonym Jane Doe, accused the bank of prioritizing profit over protecting victims by ignoring a "plethora" of information about Epstein's crimes.
- This follows similar settlements by other financial institutions, with JPMorgan Chase agreeing to pay $290 million and Deutsche Bank $75 million to Epstein's accusers.
Bank of America Settles Epstein Lawsuit
Bank of America has agreed to pay $72.5 million to settle a class-action lawsuit, accused by women of facilitating Jeffrey Epstein's sex trafficking by ignoring "red flags" and prioritizing profit. This substantial agreement, which still awaits a judge's approval, aims to compensate Epstein's victims while the bank continues to deny any wrongdoing in the scandal.
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