Bank of America Reaches Settlement in Epstein-Related Lawsuit

Bank of America has reached a settlement in a civil lawsuit, which accused the bank of facilitating sexual abuse by Jeffrey Epstein, according to court records revealed on Monday. In a phone call with U.S. District Judge Jed Rakoff, lawyers stated they have reached a 'settlement in principle,' awaiting judicial approval.

The lawsuit, initiated by a woman under the pseudonym 'Jane Doe,' claimed that the bank ignored suspicious financial transactions related to Epstein while prioritizing profit over victim protection. The bank denied any deeper involvement, asserting they provided routine services at the time without known links to Epstein.

This case aligns with settlements from JPMorgan Chase and Deutsche Bank on similar allegations. Epstein, facing sex trafficking charges, was found dead in his cell in 2019. A planned trial and deposition of Apollo co-founder Leon Black are expected to be canceled if the settlement is approved.