Bank of America settles Epstein case for $72.5 million
dw.com • • business
Key Points:
- Bank of America has agreed to pay $72.5 million to settle a class action lawsuit accusing it of facilitating Jeffrey Epstein's sex trafficking operations by ignoring suspicious transactions.
- The lawsuit, filed by an unidentified woman on behalf of alleged victims, claims the bank prioritized profit over protecting victims, though Bank of America denies facilitating sex trafficking crimes.
- The settlement, pending court approval, aims to avoid a lengthy trial and follows similar agreements by JPMorgan and Deutsche Bank, which each paid $75 million in 2023 to settle related lawsuits.
- Jeffrey Epstein, a convicted sex offender who died by suicide in 2019, was accused of running a sex abuse ring involving underage girls, with his case exposing connections to prominent global figures.
