Bank of America reaches $72.5 million settlement in Epstein lawsuit
Bank of America will pay $72.5 million to settle a lawsuit alleging it aided Epstein's sex trafficking through financial transactions.Summary
Bank of America has agreed to a $72.5 million settlement in a civil class-action lawsuit brought by Jane Doe, alleging the bank facilitated Jeffrey Epstein’s sex trafficking by overlooking suspicious financial activity. The lawsuit claimed the bank prioritized profit over protecting potential victims, citing payments made to Epstein by figures like Leon Black, co-founder of Apollo Global Management, who paid Epstein $158 million for financial services. Bank of America maintains it provided routine services without knowledge of Epstein’s crimes. The settlement requires approval from Judge Jed Rakoff, with a hearing set for April 2, 2026, and plaintiffs’ attorneys may receive up to 30% of the settlement for fees. This settlement follows similar agreements with JPMorgan Chase ($290 million) and Deutsche Bank ($75 million) on behalf of Epstein’s accusers, while a case against Bank of New York Mellon is currently under appeal. The Justice Department’s release of investigative files has shed light on Epstein’s network and implicated numerous prominent individuals.
(Source：The News International)