BofA Settles for $72.5M in Lawsuit Over Alleged Ignorance Toward Abuse
Bank of America has agreed to pay a $72.5 million settlement in an ongoing lawsuit brought by survivors alleging it ignored red flags regarding Jeffrey Epstein's abuse at his Palm Beach estate, as reported on March 04/18 PM EDT (WSJ). The financial institution admitted turning blind eye toward the allegations rather than reporting them or acting to prevent harm from occurring within its facilities.
Key Points
-
1Bank of America agreed to pay $72.5 million in a settlement regarding Jeffrey Epstein's sexual abuse allegations.
-
2The lawsuit alleges that the financial institution turned blind eye or helped facilitate sex trafficking operations involving victims.
Developments
Perspectives
Bank of America will pay $72.5 million to victims of Jeffrey Epstein's sexual abuse, marking the latest multimillion-dollar settlement tied to his crimes.
— (Daily Mail)The financial giant helped facilitate a sex trafficking operation involving convicted offender Jeffrey Epstein according to court documents filed Friday
— (Cbsnews)Bank of America has reached an undisclosed $72 million settlement in a federal class-action lawsuit alleging the bank knowingly facilitated Jeffrey Epstein's sex trafficking operations by providing banking services while ignoring red flags. The deal requires judicial approval and includes no admission of liability, though it provides closure for plaintiffs who claim they were coerced into abuse from 2011 to at least late 2019 through financial control managed via Bank accounts.