Bank to Pay Huge Sum in Epstein Case

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- Settlement includes $72.5 million payment to victims
- Lawsuit filed by woman abused over several years
An American bank has reached a $72.5 million settlement in a class-action lawsuit brought by victims of Jeffrey Epstein, who had accused the bank of facilitating his trafficking operations.
The lawsuit was filed in October by a woman from Florida, who says she was abused by Epstein "on at least 100 occasions" between 2011 and 2019, and that two accounts were opened for her at the bank under instructions from Epstein’s business team.
The complaint stated that the bank had "a wealth of information regarding Epstein’s trafficking activities but chose profits over protecting the victims."
In court documents, the bank clarified that the settlement does not constitute any admission of liability or wrongdoing on its part.
The settlement was reached earlier this month, but the details were not disclosed until documents were filed Friday in a federal court in New York. They are now awaiting a judge’s approval.
Sigrid McCawley, a lawyer for the victims, said earlier this month that the resolution represents "another step on the road to the justice they deserve."
This marks the third such settlement by a major bank, following two others that agreed to pay $290 million and $75 million, respectively.
The lawsuit, filed on behalf of an unnamed woman referred to as "Jane Doe" to protect her privacy, pointed to "extremely concerning and erratic banking behavior" in her accounts, which were used by Epstein’s team.
The victim stated that she met Epstein in Russia in 2011 and was controlled and abused by him until his death in jail in August 2019.
The complaint also references more than $150 million paid to Epstein by billionaire Leon Black, co-founder of Apollo Global, for "alleged tax and estate planning advice" through Black’s bank account.
Black, who resigned from Apollo amid scrutiny over his ties to Epstein, has denied wrongdoing and was questioned as part of the case last week.
The bank had previously urged the court to dismiss the lawsuit, arguing that it provided routine services to individuals who at the time had no known connection to Epstein, describing the complaint as "weak and without merit."
