Bank of America has reached a $72.5m (£54.6m) settlement in a lawsuit brought on behalf of victims of Jeffrey Epstein, who had accused the bank of facilitating his sex trafficking operation.
The proposed class-action lawsuit was filed in October by a Florida woman who says she was abused by Epstein “on at least 100 occasions” between 2011 and 2019 and held two accounts at Bank of America at the direction of his business team.
It alleged that the bank had “a plethora of information regarding Epstein’s sex trafficking operation but chose profit over protecting the victims”.
In the court documents, Bank of America says the settlement makes “no admission of liability” or “wrongdoing” on its part.
