Deutsche Bank has agreed to pay $75 million to sexual abuse victims of Jeffrey Epstein to settle a lawsuit filed last year in Manhattan, according to the lawyers for the victims.
The settlement, which must be approved by a federal judge, would resolve a proposed class-action suit that alleged the bank had helped enable the disgraced financier’s sex trafficking of young women by missing warning signs in Mr. Epstein’s accounts that he was engaged in wrongdoing.
Dylan Riddle, a spokesman for the German bank, declined to comment on any proposed settlement. But in a statement, Mr. Riddle said the bank “has made considerable progress in remedying a number of past issues,” while investing in bolstering its internal controls.
David Boies and Brad Edwards, the lawyers for the women who brought the case, said $75 million would be made available to the more than 125 victims of Mr. Epstein who previously obtained payouts from a restitution fund established by his estate after his death in…
This article was written by Matthew Goldstein and originally published on www.nytimes.com