Bank of America has agreed to settle a lawsuit filed on behalf of victims of Jeffrey Epstein, who accused the bank of helping facilitate his sex trafficking operation.
The terms of the settlement have not yet been disclosed and must still be approved by a court.
This is the third major bank settlement tied to Epstein-related claims. Previously:
- JPMorgan Chase agreed to pay $290 million
- Deutsche Bank agreed to pay $75 million
Sigrid McCawley, a lawyer representing the victims, described the agreement as “one more step on the road to much deserved justice.”
Bank of America has not commented publicly on the settlement.
Details Emerge in Bank of America Epstein Lawsuit Settlement
The proposed class-action lawsuit against Bank of America was filed in October by a Florida woman who alleges she was abused by Jeffrey Epstein “on at least 100 occasions” between 2011 and 2019.
According to the complaint, she was directed by Epstein’s associates to maintain two bank accounts at Bank of America, which were allegedly used as part of his broader operation. The lawsuit claims the bank had “a plethora of information” about Epstein’s activities but chose profit over protecting victims.
It also highlights what it describes as “incredibly alarming and erratic banking behavior” within those accounts, suggesting they were used by Epstein’s team in suspicious ways.
The case further references more than $150 million paid to Epstein by Leon Black, co-founder of Apollo Global Management, for what were described as “tax and estate planning advice,” with transactions reportedly routed through a Bank of America account. Black, who stepped down from Apollo amid scrutiny of his Epstein ties, has denied any wrongdoing.
Bank of America had previously asked the court to dismiss the case, arguing it provided routine banking services to clients who were not known at the time to be linked to Epstein, and described the allegations as “threadbare and meritless.”
However, both sides have now informed the court that they have reached a “settlement in principle.” Further details are expected to be submitted on 27 March, with a court hearing scheduled for 2 April.
