Bank of America will pay $72.5 million to Epstein's victims following a court settlement
The bank agreed to establish a fund to compensate dozens of women who accused it of ignoring suspicious financial transactions linked to the late financier's sex trafficking ring. The bank denies having facilitated the crimes, and the settlement does not imply an admission of liability.
People use ATMs at a Bank of America branch
A federal judge in New York granted final approval to the $72.5 million settlement between Bank of America and a group of women who claimed to have been victims of Jeffrey Epstein.
During a hearing held on Thursday, Federal Judge Jed Rakoff of the Southern District of New York ruled that the settlement will provide numerous victims with "substantial" compensation and a form of justice, even if only partial, Reuters reported.
The settlement brings an end to the class-action lawsuit Doe v. Bank of America, N.A., filed in October 2025 by a woman identified by the pseudonym Jane Doe, on behalf of other victims.
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The allegations against the bank
The plaintiff alleged that Epstein sexually abused her on at least 100 occasions between 2011 and 2019. According to the complaint, the financier repeatedly deposited and withdrew money from her Bank of America accounts as part of his exploitation scheme.
The women accused the bank of ignoring suspicious financial transactions related to Epstein, even after he pleaded guilty in Florida in 2008 to soliciting prostitution and was registered as a sex offender.
Among the transactions in question were payments made to Epstein by billionaire Leon Black, former CEO of Apollo Global Management. Black previously claimed that those funds were for wealth planning, tax, and philanthropic advisory services, and denied any knowledge of or involvement in the financier's crimes, according to ABC News.
Bank of America denies facilitating the crimes
"Bank of America did not facilitate sex trafficking crimes," said a spokesperson for the bank, noting that the settlement brings the litigation to a close and provides greater redress to the plaintiffs.
Attorneys estimate that between 60 and 75 women, primarily residents of the United States and Eastern Europe, could seek compensation from the fund.
The third major banking settlement
Bank of America becomes the third major financial institution to reach a public settlement with Epstein's victims. In 2023, JPMorgan Chase agreed to pay $290 million, while Deutsche Bank agreed to pay $75 million to settle similar lawsuits.
Epstein died in a Manhattan jail in August 2019 while awaiting trial on federal sex trafficking charges. The New York City Medical Examiner's Office determined that his death was a suicide.
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