Deutsche Bank Settles Jeffrey Epstein Lawsuit For $75 Million

(CTN News) – Deutsche Bank and the group of women accused the lender of helping facilitate Jeffrey Epstein’s sex trafficking activities by agreeing to pay $75 million (£60 million) to settle a lawsuit brought by them.

Upon the settlement of the case, Deutsche Bank will be able to draw a line under the legal claims relating to its relationship with Epstein, who was dropped by JP Morgan in 2013 and became a client of Deutsche Bank shortly thereafter.

Even after 40 underage girls had made claims against Epstein, Deutsche Bank accepted Epstein as a client, and the two maintained their banking relationship until the end of 2018.

After Epstein died in prison while awaiting his trial for sex trafficking charges in August of this year, a year after Epstein died in prison while awaiting trial on sex trafficking charges, New York state’s financial regulator fined the lender $150m for his relationship with Epstein.

The latest civil lawsuit was going to be heard at a trial scheduled for 5 September this year as part of the hearing process.

In the context of this groundbreaking settlement, two law firms have conducted a decade-long investigation to determine who was responsible for Epstein’s financial banking partner’s involvement in his trafficking organization.

The law firms who represent the alleged victims, Boies Schiller Flexner and Edwards Pottinger, said that the settlement is the result of a decade-long investigation.

Deutsche Bank’s statement indicates that it declined to comment on the settlement, but did refer to a statement that it made in 2020, in which it said: “We acknowledge our mistakes in onboarding Epstein in 2013 as well as the weaknesses in our processes, and have learned from them.”.

In the meantime, it is unclear how the settlement between Deutsche Bank and JP Morgan will affect the results of the two separate lawsuits Epstein is facing against JP Morgan, which he has been a client of for the last 15 years, until 2013.

It has recently been brought to the attention of JP Morgan that it is being sued by the Virgin Islands, where Epstein had a home on the private island of Little St James, and a woman known as Jane Doe 1.

There are allegations in the lawsuits that one of its former employees was Jes Staley, former CEO of Barclays, who observed the victims personally, including visiting young girls in Epstein’s apartments, and who exchanged 1,200 emails with the late financier, including pictures of young women in seductive poses and referring to women by the names of Disney princesses.

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