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The Bank of America has agreed to pay $72.5 million to settle a class action lawsuit alleging that it enabled financial services linked to Jeffrey Epstein’s sex trafficking network, according to court documents filed Friday.
In a separate statement, the Bank maintained that it did not support Epstein’s criminal activities but said the agreement would allow it to close the matter and bring resolution for those involved.
The lawsuit, filed by a woman on behalf of herself and other alleged victims, accused the bank’s executives of overlooking warning signs connected to Epstein’s activities while continuing to provide him with banking and investment services.
If approved by the court, the settlement would prevent the case from proceeding to trial and was described as being in the best interests of the plaintiffs.
The agreement adds to a series of settlements involving major financial institutions in cases linked to Epstein, following similar payouts of $75 million agreement by JP Morgan and a reported $75 million payment by Deutsche Bank, both in 2023.
Epstein, a financier with ties to high-profile figures, was arrested in 2019 on sex trafficking charges involving minors. He had previously been convicted in 2008 for soliciting sex from underage girls. He died in custody in August 2019 while awaiting trial, with his death officially ruled a suicide.
The case has continued to attract public and political attention, particularly over the scope of his network and the release of related investigative records.
