March 27, 2026 — Bank of America has agreed to pay $72.5 million to resolve a federal lawsuit that accused the bank of helping facilitate Jeffrey Epstein’s sex trafficking operation, court papers filed Friday show.
The suit, filed in New York last October on behalf of alleged Epstein victims, contended the bank “knowingly and intentionally participated in, assisted, supported, and facilitated Jeffrey Epstein’s sex trafficking venture” by providing banking and investment services while ignoring red flags and failing in compliance and regulatory duties, according to the complaint.
Court documents state the settlement contains “no admission of liability” or wrongdoing by the bank and still requires a judge’s approval. A Bank of America spokesperson told CBS News the company stands by prior statements that it did not facilitate sex trafficking crimes, and that the agreement allows the bank to move on while providing closure for the plaintiffs.
The lead plaintiff, identified in filings as Jane Doe, says she met Epstein in 2011 while living in Russia and was coerced into what the complaint describes as a “cult-like life.” The filing alleges Epstein controlled her financially, emotionally and psychologically from 2011 through 2019, paying her through a Bank of America account as he sexually abused her on at least 100 occasions, including rapes and forced encounters with other women. It also alleges he used the account to pay her rent and wages from a sham job and exploited her immigration status until she escaped after Epstein’s death.
The complaint highlighted financier Leon Black as a “critical witness.” While not a defendant, the suit alleges the bank overlooked roughly $170 million in payments Black made from a Bank of America account to Epstein, payments described in filings as for “tax and estate planning advice.” During a recent hearing, Black’s lawyer persuaded U.S. District Judge Jed S. Rakoff to postpone Black’s deposition by 10 days as the parties moved toward the settlement.
Epstein died in federal custody in August 2019 while awaiting trial on sex trafficking charges; his death was ruled a suicide. The plaintiffs’ filing said banks are required to submit suspicious activity reports to flag potential criminal conduct, such as money laundering, and alleged Bank of America did not file such reports related to Epstein until after his death.
The case comes amid the Justice Department’s release of millions of pages of documents from law enforcement investigations into Epstein, which show he maintained contact with prominent figures — including business leaders, journalists, scientists and politicians — long after a 2008 state conviction in Florida.