Bank of America Paying $72,500,000 Million to Epstein Accusers in Final Settlement
A judge has signed off on Bank of America’s $72.5 million settlement with women who said the bank helped Jeffrey Epstein’s sex-trafficking operation.
The lawsuit said Bank of America opened accounts and moved transfers tied to Epstein associates, including the MC2 modeling agency, and ignored warning signs.
The bank denies it facilitated trafficking and did not admit liability.
U.S. District Judge Jed Rakoff approved the deal after an August 27th hearing, reports Reuters.
He rejected objections that the release of claims was too broad. He called the settlement fair, reasonable, and adequate.
The class covers women sexually abused or trafficked by Epstein or his associates from June 30, 2008, to July 6, 2019. About 60 to 90 women are expected to get payments.
The court approved attorneys’ fees at 30 percent of the fund. A bank spokesman says the deal lets the bank put the case behind it and gives the plaintiffs closure.
JPMorgan Chase earlier paid $290 million. Deutsche Bank paid $75 million.
This follows earlier settlements of $290 million from JPMorgan Chase and $75 million from Deutsche Bank.
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