Bank of America has agreed to a $72.5 million settlement in a lawsuit alleging the bank facilitated Jeffrey Epstein’s sex trafficking operation by providing banking services while ignoring warning signs and regulatory duties. The lawsuit, filed on behalf of Epstein’s alleged victims, accuses the bank of enabling Epstein’s control over victims and highlights the involvement of billionaire Leon Black, who allegedly transferred funds used to finance Epstein’s activities. This settlement is part of a broader legal effort targeting financial institutions that supported Epstein, following similar settlements by JPMorgan Chase and Deutsche Bank.
Posts tagged as “Jed Rakoff”
The U.S. Virgin Islands has issued a subpoena to Tesla CEO Elon Musk in connection with its lawsuit against JPMorgan Chase over sex trafficking by the late Jeffrey Epstein. The subpoena seeks documents related to any communication between Musk, JPMorgan and Epstein, and the Virgin Islands government believes Epstein may have referred Musk as a client to JPMorgan. Musk has not been accused of any wrongdoing, and the subpoena is part of the government's effort to obtain documents related to the case.