Bank of America settles Epstein-linked lawsuit without admitting fault
Bank of America has agreed to settle a civil lawsuit brought by women who claimed the bank ignored suspicious financial activity linked to Jeffrey Epstein. The proposed class action, filed last October, accused the institution of turning a blind eye to transactions despite knowing about Epstein's crimes.
The bank has consistently denied the allegations, insisting it only provided standard services to individuals with no direct ties to Epstein.
The lawsuit was initiated by a woman using the pseudonym Jane Doe. In her October filing, she argued that Bank of America failed to act on red flags in Epstein's financial dealings, even after his criminal activities became public knowledge.
The bank has maintained its position, stating that any services rendered were routine and involved clients with no established connection to Epstein. Despite this defence, the two sides have now reached a settlement in principle, avoiding a trial.
The agreement still requires approval from U.S. District Judge Jed Rakoff before it can be finalised. Details of the settlement terms, including any financial compensation, have not been disclosed in publicly available records.
The case will not proceed to trial if the judge approves the settlement. Bank of America continues to deny wrongdoing, while the women involved have secured an agreement without admitting fault from the bank. The outcome follows similar legal actions against other financial institutions linked to Epstein's activities.
