Overview
- The settlement, which received preliminary approval Thursday, will return to court on August 27 for a final decision.
- Bank of America agreed to resolve the case without admitting wrongdoing and says it did not facilitate sex trafficking crimes.
- Plaintiffs’ lawyer David Boies expects 60 to 75 survivors to file claims, and attorneys may seek up to 30% of the fund for fees.
- The lawsuit says the bank ignored red flags and failed to file required suspicious activity reports on Epstein’s cash flows, including transfers tied to Apollo co-founder Leon Black, who denies wrongdoing.
- The case follows earlier payouts to Epstein accusers by JPMorgan Chase for $290 million and Deutsche Bank for $75 million, reflecting a pattern of civil settlements without admissions of liability.