"US District Judge Jed Rakoff allowed portions of a proposed class-action lawsuit filed by victims against Bank of America to move forward, but dismissed other parts of the case. Rakoff dismissed the parts of the lawsuit that alleged the bank "knowingly participated" in Epstein's sex-trafficking operation, as well as allegations that it failed to follow know-your-customer laws in monitoring Epstein's accounts. But the judge allowed the victims' claims that Bank of America was a "knowing beneficiary" of the sex-trafficking operation to move forward."
"Rakoff dismissed the entirety of a similar lawsuit the victims had filed against BNY. The lawsuit had alleged BNY ignored red flags while processing Epstein's wire transfers and by extending credit to a modeling agency financed by Epstein and owned by Jean-Luc Brunel, who died in his prison cell in 2022 while awaiting trial in France for rape charges. David Boies, an attorney representing the Epstein victims, said he would appeal the dismissal of the BNY lawsuit."
Victims accused Bank of America of ignoring red flags and facilitating millions of dollars, including over $170 million from Leon Black, into Epstein's accounts, with funds allegedly used partly to pay hush money. US District Judge Jed Rakoff allowed portions of the proposed class-action against Bank of America to proceed while dismissing claims that the bank "knowingly participated" in the trafficking and that it violated know-your-customer rules. Rakoff permitted claims that the bank was a "knowing beneficiary" of the trafficking to move forward. Rakoff dismissed the entire lawsuit against BNY; plaintiffs' lawyers said they will appeal that dismissal.
Read at Business Insider
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