A US judge has given preliminary approval to a $72.5 million settlement between Bank of America and up to 75 women who were sexually abused by Jeffrey Epstein. The settlement, announced on Thursday, aims to compensate victims who were allegedly trafficked by Epstein between 2008 and his death in 2019.
US District Judge Jed S. Rakoff granted preliminary approval and scheduled a final hearing for August 27. He also ordered lawyers to provide a comprehensive list of publications to notify victims, ensuring “nobody is left out.” The lawsuit alleged that the bank ignored suspicious financial transactions linked to Epstein while he was abusing women and girls.
Epstein died in a federal jail in August 2019 while awaiting trial on sex trafficking charges; his death was ruled a suicide. The lawsuit, brought on behalf of a woman identified as Jane Doe, claimed she was coerced into a cult-like life after meeting Epstein in 2011 and was paid through a Bank of America account while being controlled and sexually abused.
Attorney David Boies said lawyers for the victims believe between 60 and 75 women will make claims eligible for payouts from the settlement fund. Judge Rakoff noted that while victims may never be fully compensated, they are entitled to just compensation from any entity that unlawfully facilitated Epstein’s trafficking.
In a statement, Bank of America said: “While we stand by our prior statements made in the filings in this case, including that Bank of America did not facilitate sex trafficking crimes, this resolution allows us to put this matter behind us and provides further closure for the plaintiffs.”
