In a lawsuit filed on behalf of Jeffrey Epstein’s victims, who had accused the bank of supporting his sex trafficking business, Bank of America agreed a $72.5 million (£54.6 million) settlement.
A Florida lady who claims she was mistreated by Epstein “on at least 100 occasions” between 2011 and 2019 and had two Bank of America accounts at the behest of his business team filed the proposed class-action lawsuit in October.
The bank was accused of having “a plethora of information regarding Epstein’s sex trafficking operation but chose profit over protecting the victims” . According to Bank of America’s court filings, the settlement contains “no admission of liability” or “wrongdoing” on its part.
Although the settlement was reached earlier this month, the specifics of the agreement were not made public until paperwork were submitted to a federal court in New York on Friday. They are now awaiting permission from a court.
The victims’ attorney, Sigrid McCawley, told the BBC earlier this month that the agreement was “one more step on the road to much deserved justice” in a statement. After JP Morgan Chase and Deutsche Bank agreed to pay out $290 million and $75 million, respectively, this is the third large bank settlement of its kind. A “Jane Doe” filed the case, citing “incredibly alarming and erratic banking behaviour” in her own Bank of America accounts that Epstein’s team used.
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