March 27, 2026 / 11:48 PM EDT / CBS/AP
Bank of America has agreed to a $72.5 million settlement in a lawsuit that accused the bank of helping facilitate Jeffrey Epstein’s sex trafficking operation, according to court papers filed Friday.
The federal suit, filed last October in New York on behalf of alleged Epstein victims, said the bank “knowingly and intentionally participated in, assisted, supported, and facilitated Jeffrey Epstein’s sex trafficking venture by providing Jeffrey Epstein and his associates with banking and investment services while Bank of America ignored red flags and failed, or was otherwise negligent, in its compliance and regulatory responsibilities.”
Court documents say the settlement includes “no admission of liability” or “wrongdoing” by the bank and must still be approved by a judge. A Bank of America spokesperson told CBS News the company “stands by our prior statements,” including that it did not facilitate sex trafficking crimes, and that the resolution lets the bank put the matter behind it and provides closure for the plaintiffs.
The lead plaintiff, identified only as Jane Doe in court papers, says she met Epstein in 2011 while living in Russia and was coerced into what the suit describes as a “cult-like life.” The complaint 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 Epstein paid her rent and wages from a phony job through that account and used her immigration status to control her until her eventual escape after Epstein’s death.
The complaint drew attention to financier Leon Black, co-founder of Apollo Global Management, describing him as a “critical witness.” While not a defendant, the suit alleged the bank ignored about $170 million in payments Black made from a Bank of America account to Epstein, purportedly for “tax and estate planning advice.” During a recent hearing, Black’s lawyer convinced Judge Jed S. Rakoff to delay Black’s deposition for 10 days as the parties neared settlement.
Epstein died in federal custody in August 2019 while awaiting trial on sex trafficking charges; his death was ruled a suicide. The lawsuit noted banks are required to file suspicious activity reports (SARs) to flag potential criminal conduct such as money laundering, and it alleged Bank of America failed to file SARs related to Epstein until after his death.
The case comes as the Justice Department has released millions of pages of documents from law enforcement probes of Epstein, showing his continued contact with influential figures, including business leaders, journalists, scientists and politicians, long after his 2008 state conviction in Florida.