Bank Of America To Pay $72.5m In Settlement For Epstein Sex-Trafficking Suit
The wealthy US financier Jeffrey Epstein, indicted on charges he trafficked underage girls for sex, committed suicide in prison, US news media reported on August 10, 2019. / AFP Bank of America has agreed to pay $72.5 million to settle a class action lawsuit alleging that the bank facilitated a sex trafficking ring orchestrated by Jeffrey Epstein, court documents showed Friday. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); Bank of America said separately that while it continued to deny supporting Epstein’s crimes, “this resolution allows us to put this matter behind us and provides further closure for the plaintiffs.” The suit, filed by an unidentified woman on behalf of herself and other alleged victims, claimed the bank’s executives “ignored red flags” about Epstein’s sex trafficking venture to provide him with banking and investment services. The settlement, if approved in court, would avoid a potentially lengthy trial process and was deemed to be in the “best interests” of the plaintiffs. It was the latest bank to settle lawsuits from Epstein’s alleged victims, after a $75 million agreement by JP Morgan and a reported $75 million payment by Deutsche Bank, both in 2023. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); READ ALSO: Millions To Protest Against Trump In US Today Epstein, a billionaire hedge fund manager with a bevy of powerful and celebrity friends, was charged with sex trafficking of minors after being arrested in July 2019. He had already been convicted in 2008 of soliciting sex from girls as young as 14. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587799169-0"); }); Epstein committed suicide while being held at Manhattan’s Metropolitan Correctional Center in August 2019. His case has remained politically charged, with continuing disputes over the release of investigative records and the extent of his network. The US Justice Department’s release of millions of files related to prosecutors’ investigations of Epstein in recent months has embroiled several high-profile executives and politicians. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587060870-0"); }); AFP Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: Assualt Banking Court Epstein us More Stories ‘A National Disgrace’, NBA Reacts To Sexual Assault On Women At Delta Festival Alleged Assault: NYSC Withdraws Corps Members Serving In Kwara School /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.