Deutsche Bank, a leading financial institution, has reached a significant settlement in a class-action lawsuit involving allegations of facilitating convicted child sex trafficker Jeffrey Epstein’s illicit activities.
The settlement, totaling $75 million, aims to provide compensation to dozens of Epstein’s accusers, with each individual expected to receive $75,000. Additional claims against Deutsche Bank may entitle the victims to receive even larger payments, potentially exceeding $5 million.
The settlement is currently awaiting approval from a federal judge.
The Jeffery Epstein sex trafficking lawsuit, originally filed in 2022 in New York by an anonymous woman identified as Jane Doe, accused Deutsche Bank of conducting business with Epstein for five years while being aware of his use of funds for sex trafficking endeavors.
Jane Doe, who claimed to have been sexually abused by Epstein and trafficked to his associates between 2003 and 2018, alleged that Deutsche Bank turned a blind eye to alarming indicators, including payments to numerous young women. The lawsuit against Deutsche Bank was one of two legal actions brought against banks for their alleged involvement in enabling Epstein’s exploitation of underage girls.
The second lawsuit targeted JPMorgan Chase and was filed by the same law firms. Furthermore, the US Virgin Islands initiated legal proceedings against JPMorgan in 2022, alleging the bank’s complicity in Epstein’s sex trafficking and abuse by allowing him to remain a client and facilitating money transfers to his victims. These lawsuits were made possible by a one-year window established by New York state, enabling individuals to file lawsuits related to past sexual assault incidents.
Deutsche Bank has faced regulatory repercussions in the past due to its association with Epstein. In 2020, the bank was fined $150 million by New York state’s financial regulator for inadequate monitoring of its dealings with Epstein and other violations. Epstein, his associates, and affiliated entities held over 40 accounts with Deutsche Bank. The institution has since acknowledged its mistake in accepting Epstein as a client.
If you or someone you know has experienced sexual abuse or requires assistance regarding women’s rights, contact the Women’s Rights Group. Our organization is dedicated to supporting survivors, advocating for justice, and empowering women to protect their rights.
