Bank of America settles lawsuit filed by Jeffrey Epstein victims
Bank of America has tentatively settled a lawsuit claiming it ignored suspicious financial transactions involving Jeffrey Epstein while he was sexually abusing hundreds of girls and women.
The proposed settlement was revealed in filings in Manhattan federal court on Monday, the same day that billionaire financier Leon Black was originally scheduled to be deposed in the case. Terms were not disclosed. The bank declined to comment through a spokesperson.
Though not a defendant, Black was recently described as a “critical witness” in the case by Sigrid McCawley, a lawyer for Epstein victims.
During a hearing last week, a lawyer for Black persuaded Judge Jed S. Rakoff to postpone Black’s deposition for 10 days on the grounds that the parties were close to settling. The lawyer, Michael Carlinsky, did not immediately respond to a request for comment Tuesday.
In a statement, McCawley paid tribute to the “brave and fearless voices” of Epstein victims, saying their “road to justice” has been long and trying, but the Bank of America settlement “is one more step on the road to much deserved justice.”
The October lawsuit accused the bank of ignoring US$170 million Black paid from a Bank of America account to Epstein purportedly for “tax and estate planning advice.”
It said the bank ignored “numerous red flags” of improper financial dealings, and “went far beyond what a non-complicit bank would have done and instead assisted Epstein in setting up the necessary financial structure to operate his sex-trafficking venture.”
The lawsuit, brought on behalf of a woman identified in court papers only as Jane Doe and “all others similarly situated,” said the woman was living in Russia when she met Epstein in 2011 and was “coerced into a cult-like life.”
It said she was paid by Epstein through a Bank of America account as she was controlled “financially, emotionally, and psychologically” by Epstein from 2011 through 2019 as he sexually abused her on at least 100 occasions, including raping her and forcing her to engage sexually with other women for his sexual gratification.
The lawsuit alleged that Epstein paid her rent and income from a phony job through a Bank of America account, and held her immigration status “over her head, until her ultimate escape when Jeffrey Epstein died.”
Epstein died in a federal jail in August 2019 as he awaited trial on sex trafficking charges. His death was ruled a suicide. He was known for his connections with wealthy and powerful men, and the lawsuit said he used it to his advantage in his attacks on women.
The recent Justice Department release of millions of pages of documents from law enforcement probes of Epstein show he had regular contact with CEOs, journalists, scientists and prominent politicians long after his 2008 conviction in state court in Florida on sex crimes charges.
A review of the documents by The Associated Press and other news organizations showed Black’s name appeared 8,200 times, though that figure likely includes some duplicate records.
In March 2021, Black stepped down as CEO of Apollo Global Management, saying he wanted to focus on his family, health, and “many other interests.”
A committee of the company’s board had issued a report two months earlier concluding that Epstein had advised Black personally on estate planning, tax issues, charitable giving and running his “family office,” but provided no services to Apollo or invested in no Apollo funds.
The report also said the review — which Black requested — found “no evidence” that he was involved with Epstein’s alleged criminal activities “in any way” or “at any time.”
In a statement Tuesday, Sen. Ron Wyden, an Oregon Democrat who sits on the Senate Finance Committee, said the bank’s decision to settle was a “step towards justice and a vindication of my staff’s investigation into how major Wall Street banks enabled Epstein’s crimes.”
He said the bank “willfully looked the other way” as Black paid Epstein the $170 million through “huge wire transfers,” often in $10 million or $20 million installments.
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United Kingdom: Kevin Spacey reaches a settlement with three men accusing him of sexual assault, avoiding a new trial
The 66-year-old Hollywood star was acquitted in 2023 by a London court of sexual assault charges brought against him by four men, following a criminal trial lasting several weeks.
American actor Kevin Spacey will avoid a new trial in the UK after reaching an agreement with three men who accused him of sexual assault and were pursuing him in a civil case. The 66-year-old Hollywood star was acquitted in 2023 by a London court of sexual assault charges brought against him by four men, following a weeks-long criminal trial.
Two of them were pursuing civil action against the actor, along with a third, new plaintiff, British actor Ruari Cannon, who waived his right to anonymity in this new proceeding. Kevin Spacey, who won Oscars for American Beauty and The Usual Suspects, has always maintained his innocence. A trial had been scheduled for October 2026, but the plaintiffs reached an agreement with the actor, according to a stay of proceedings order issued by a High Court judge in London, as reported by the PA news agency.
The "payment terms" were not specified.
“By mutual consent, it is ordered that all further proceedings against the defendant in these matters be suspended,” according to the ruling, which does not detail the “settlement terms,” including financial ones, agreed upon between the three men and Kevin Spacey. These three men accused the actor of sexually assaulting them between 2004 and 2015, when he was the artistic director of London’s Old Vic Theatre.
Contacted by AFP, the lawyers for the plaintiffs and Kevin Spacey did not respond. The accusations of sexual assault against the Hollywood star emerged in 2017 at the beginning of the #MeToo movement, when Kevin Spacey was at the height of his fame, starring in the hit Netflix series House of Cards. Since then, he has virtually disappeared from screens.
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