in 2023, Deutsche Bank agreed to pay $75 million to settle a proposed class-action lawsuit, accused of “knowingly benefiting from Jeffrey Epstein’s sex?trafficking” by maintaining banking services while he was a registered sex offender businessinsider.com+15apnews.com+15axios.com+15.
Additionally, JPMorgan Chase faced parallel claims and settled in two parts:
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In June 2023, JPMorgan reached a $290 million class-action settlement with Epstein’s victims, who alleged the bank “served as the financial conduit for Epstein’s trafficking operation,” permitting large cash withdrawals and loans despite red flags en.wikipedia.org+5apnews.com+5cnbc.com+5kcra.com+3wsls.com+3apnews.com+3.
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In September 2023, JPMorgan agreed to pay $75 million to the United States Virgin Islands to resolve separate claims that it facilitated Epstein’s sex trafficking, with most funds allocated to local charities, law enforcement, and survivor support reddit.com+6apnews.com+6thehill.com+6.
Summary of Bank Settlements Related to Epstein
| Bank | Settlement Amount | Basis of Allegation |
|---|---|---|
| Deutsche Bank | $75?million (Class-action) | Accused of benefiting from Epstein’s trafficking while he was their client |
| JPMorgan Chase | $290?million (Class-action) | Victims alleged JPMorgan enabled Epstein’s operations via financial facilitation |
| JPMorgan Chase | $75?million (USVI lawsuit) |
U.S. Virgin Islands alleged bank helped fund trafficking; part of settlement
|
