Bank of America Settles Epstein-Related Lawsuit

Bank of America has agreed to settle a civil lawsuit filed by women who accused the bank of facilitating Jeffrey Epstein's sexual abuse. The lawsuit accused the bank of ignoring suspicious transactions related to Epstein. A scheduled deposition and trial will not proceed if the settlement is approved.

Bank of America has settled a civil lawsuit involving allegations that it facilitated Jeffrey Epstein's sexual abuse, according to court records revealed on Monday. The lawsuit, initiated in October by a woman using the pseudonym Jane Doe, accused the bank of prioritizing profit over victim protection by ignoring suspicious transactions linked to Epstein.

Bank of America contends that it only provided routine services to people without known links to Epstein at the time. U.S. District Judge Jed Rakoff had previously ordered that the bank must face claims of benefiting from Epstein's sex trafficking activities. However, the settlement still requires Rakoff's approval.

The lawsuit is part of a broader series of suits filed against Epstein's enablers, with settlements already reached with JPMorgan Chase for $290 million and Deutsche Bank for $75 million. Epstein died in 2019 while awaiting trial on sex trafficking charges, his death ruled a suicide by the medical examiner.

(With inputs from agencies.)