Bank of America to pay $72.5m to settle Epstein-linked lawsuit
Bank of America will pay $72.5 million to settle a lawsuit alleging it facilitated Jeffrey Epstein's sexual abuse.Summary
Bank of America has agreed to a $72.5 million settlement in a civil lawsuit brought by women accusing the bank of aiding Jeffrey Epstein's sex abuse. The plaintiffs alleged the bank ignored suspicious financial transactions linked to Epstein, prioritizing profit over victim protection. While Bank of America maintains it did not facilitate sex trafficking, the settlement allows them to resolve the matter and provide financial relief to the plaintiffs. The agreement, which requires court approval, could see the plaintiffs' lawyers receive up to $21.8 million in fees.
The lawsuit highlighted transactions, including payments from Apollo Global Management’s Leon Black, who later stepped down as CEO after revelations of substantial payments to Epstein. Similar lawsuits have been filed against other financial institutions, resulting in settlements with JPMorgan Chase and Deutsche Bank.
Jeffrey Epstein died by suicide in jail in 2019 while awaiting trial on sex trafficking charges, and the plaintiffs’ lawyers are continuing to pursue legal action against other alleged enablers.
(Source：Aaj English Tv)