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Bank of America
has agreed to pay victims of notorious sex offender Jeffrey Epstein $72.5 million to settle a class action lawsuit alleging that the bank facilitated his sex trafficking operation, a New York federal court filing showed Friday evening.
The settlement, in which BoA did not admit wrongdoing, is the fourth settlement by a major bank of legal claims by Epstein victims or a government entity alleging they effectively abetted his trafficking while he was a customer. The settlement with BoA has to be approved by a judge in U.S. District Court in Manhattan, where the suit was filed.
“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,” a spokesperson for Bank of America said in a statement sent to CNBC.
