economy
Epstein victims to get $72.5M from Bank of America settlement
The settlement by Bank of America comes nearly three years after JPMorgan Chase and Deutsche Bank settled similar lawsuits by victims of Jeffrey Epstein.
TL;DR
- Bank of America will pay $72.5 million to settle a class action lawsuit alleging it facilitated Jeffrey Epstein's sex trafficking.
- The settlement requires approval from a federal judge but typically such approvals are granted.
- The funds will compensate women victimized by Epstein or his associates between June 30, 2008, and July 6, 2019.
- Bank of America denies facilitating sex trafficking crimes but seeks to resolve the matter.
- This follows similar settlements by JPMorgan Chase ($290 million) and Deutsche Bank ($75 million) with Epstein's victims.
- The lawsuit detailed allegations of Epstein's abuse and how his financial dealings, including transactions through Bank of America, were part of a scheme.
- Billionaire Leon Black was mentioned as having paid Epstein substantial sums via his Bank of America account for advisory services.