"The proposed class action, filed in October by a woman using the pseudonym Jane Doe, accused the country's second-largest bank of ignoring suspicious financial transactions related to Epstein despite a plethora of information about his crimes because it valued profit over protecting survivors."
"Rakoff ruled in January that Bank of America must face Doe's claims that it knowingly benefited from Epstein's sex trafficking and obstructed enforcement of the federal Trafficking Victims Protection Act. Among the transactions Doe flagged were payments to Epstein by Leon Black, Apollo Global Management's billionaire co-founder."
"Sigrid McCawley, a lawyer for the women, said in a statement: Today's resolution of the case against Bank of America is one more step on the road to much-deserved justice."
Bank of America reached a settlement in principle in a civil lawsuit brought by women who accused the bank of facilitating sexual abuse by Jeffrey Epstein. The class action, filed in October by a woman using the pseudonym Jane Doe, alleged that Bank of America ignored suspicious financial transactions related to Epstein despite knowledge of his crimes, prioritizing profit over survivor protection. Judge Jed Rakoff previously ruled in January that the bank must face claims of knowingly benefiting from Epstein's sex trafficking and obstructing enforcement of the Trafficking Victims Protection Act. The settlement requires judicial approval, with legal papers due by March 27 and a hearing scheduled for April 2. Bank of America had previously argued the allegations were meritless.
#bank-of-america-settlement #jeffrey-epstein-sex-trafficking #financial-institution-accountability #trafficking-victims-protection-act
Read at www.theguardian.com
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