Deutsche Bank to pay $75m in settlement over alleged enabling of Epstein’s sex trafficking ring.
An unnamed woman filed a lawsuit accusing Deutsche Bank of continuing to do business with Epstein, despite knowledge of his accounts being used for facilitating abuses.
Deutsche Bank declined to comment on the allegations made by the woman, including claims of abuse and trafficking by Epstein and his associates.
An anonymous woman, referred to as “Jane Doe” in court documents, initiated a class-action lawsuit in New York last November. The lawsuit represents herself and other women who claim to have been victims of abuse by the deceased financier Jeffrey Epstein.
According to the plaintiff, Deutsche Bank prioritized financial gain over legal compliance, knowingly profiting from facilitating Jeffrey Epstein’s sex trafficking operations.
The plaintiff further claimed that she endured approximately 15 years of sexual abuse by Epstein and was trafficked to his associates, receiving financial compensation for her involvement in sexual activities.
The settlement is anticipated to be utilized for providing compensation to numerous women. Edwards Pottinger, one of the law firms representing the anonymous woman, informed the BBC that this outcome is “likely the largest sex-trafficking settlement involving a banking institution in US history.”
“The settlement offers a chance for numerous survivors of Jeffrey Epstein to restore their trust in our legal system, as it ensures that all individuals and entities implicated in facilitating Epstein’s sex-trafficking operation will finally be held accountable,” stated the law firm.
Deutsche Bank had previously attempted to have the lawsuit dismissed. However, Dylan Riddle, a spokesman for the bank, refrained from commenting on the settlement but mentioned that the bank had made significant strides in addressing several previous concerns.
Mr. Riddle also noted that the bank had allocated over €4 billion ($4.3 billion; £3.5 billion) towards enhancing its controls, training, and operational processes. Additionally, the bank has expanded its team dedicated to combating financial crime.
Epstein died in a New York prison cell on August 10, 2019, while awaiting trial on sex trafficking charges. This occurred over a decade after his conviction as a registered sex offender for soliciting prostitution from a minor.
Source : bbc.com