Judge approves Bank of America’s $72 million settlement with Epstein victims

A federal judge in Manhattan gave final approval to Bank of America's $72.5 million settlement with a class of Jeffrey Epstein's trafficking victims, resolving claims the bank ignored red flags in Epstein's financial transactions for a decade after he was first charged with sexually abusing underage girls. The class covers victims trafficked between June 2008 and Epstein's 2019 arrest.

The bank was accused of failing to timely file required Suspicious Activity Reports until after Epstein's death in custody, echoing prior settlements: JPMorgan Chase's $290 million deal and Deutsche Bank's $75 million settlement, both also overseen by Judge Jed Rakoff.

Rakoff approved attorneys' fees of 30% for the Boies Schiller Flexner legal team and said the settlement represented some measure of justice for victims, distinct from what he called the 'endless stuff online' questioning why Epstein's facilitators haven't faced accountability.

The full dispatch is available from the source below.