Deutsche Bank has agreed to pay $75 million to settle a proposed class-action lawsuit alleging the lender facilitated the late Jeffrey Epstein's sex-trafficking ring

Deutsche Bank has reached an agreement to pay $75 million in a settlement to the sexual abuse victims of Jeffrey Epstein, as disclosed by the victims' lawyers. The lawsuit, filed in Manhattan, accused the bank of enabling Epstein's sex trafficking of young women by failing to identify warning signs in his accounts. The proposed class-action suit, which requires approval from a federal judge, would be resolved through this settlement. While Deutsche Bank spokesperson Dylan Riddle declined to comment on the settlement, he noted the bank's commitment to addressing past issues and enhancing internal controls.

The settlement aims to provide compensation to over 125 victims who had previously received payouts from a restitution fund established by Epstein's estate after his death in 2019. Attorneys David Boies and Brad Edwards, representing the women who brought the case, emphasized that this groundbreaking settlement concludes a comprehensive investigation spanning over a decade. They sought to hold Deutsche Bank accountable for its role in facilitating Epstein's trafficking organization.

The news of the settlement was initially reported by The Wall Street Journal. Following Epstein's suicide while in federal custody and awaiting trial on sex trafficking charges, his estate established the restitution fund to provide compensation to the victims.