Bank of America agreed to a $72.5 million settlement to resolve a class-action lawsuit involving Jeffrey Epstein’s sex-trafficking operations. The proposed agreement was presented to a federal judge in Manhattan and currently awaits court approval. Bank of America does not admit to any wrongdoing as part of the settlement.
The lawsuit alleged the bank enabled trafficking by ignoring red flags and suspicious activity. Plaintiffs specifically cited $170 million in transfers from Apollo co-founder Leon Black to Epstein’s accounts.
This resolution follows similar settlements from other major financial institutions. JPMorgan Chase paid $290 million to resolve comparable claims in 2023. Deutsche Bank also reached a $75 million settlement with Epstein’s victims.