Deutsche Bank Agrees to Pay $75 Million to Settle Lawsuit by Victims of Jeffrey Epstein

Deutsche Bank has agreed to pay $75 million to settle a lawsuit by victims of the late financier Jeffrey Epstein, who was accused of sex trafficking young women. The settlement resolves claims in a proposed class action in Manhattan federal court by Epstein’s accusers, and was confirmed by their lawyers late Wednesday.

The lawsuit accused Deutsche Bank of enabling and benefitting from Epstein’s sex trafficking of young women. JPMorgan Chase CEO Jamie Dimon, who has said the bank is not liable for sex trafficking by its former long-time customer Epstein, is due to be deposed in that suit, and a related one by the government of the U.S. Virgin Islands on May 26.

Epstein died in August 2019 in jail while awaiting trial for sex trafficking, in what New York City’s medical examiner called a suicide. The settlement agreement by Deutsche Bank will set aside $75 million for Epstein accusers.

The agreement still leaves JPMorgan Chase to defend its own would-be class action lawsuit by Epstein accusers in U.S. District Court in Manhattan, which involves similar allegations. The lawsuit seeks damages for the victims of Epstein’s alleged sex trafficking.

Deutsche Bank’s settlement agreement is a major step towards providing justice for the victims of Jeffrey Epstein. The agreement will provide some financial compensation for the victims of Epstein’s alleged crimes, and will also serve as a reminder that no one is above the law.