Monday, May 29

Deutsche Bank agrees to pay $75 million to end lawsuit over relationship with Jeffrey Epstein

Deutsche Bank has agreed to pay 75 million dollars (about 69 million euros) to end the lawsuit that a group of women had filed against the German bank for facilitating Jeffrey Epstein’s sex trafficking operations.

The Epstein case: a “disgustingly rich” sexual exploiter linked to the elites


The deal is expected to end lawsuits against Deutsche Bank over its relationship with Epstein, which became a client of the German bank in 2013 after JP Morgan dumped him.

Deutsche Bank accepted Epstein as a client after 40 underage girls reported sexual assaults. The bank maintained its relationship with the sexual offender until 2018.

Epstein died in prison in August 2019, while awaiting trial for sex trafficking. A year later, in 2020, Deutsche Bank was fined $150 million by the New York state financial regulator for its relationship with Epstein.

The hearing of the last civil lawsuit in the case was scheduled for September 5, 2023.

“This groundbreaking settlement is the culmination of the work of two law firms that spent more than ten years investigating the liability of one of the banks Epstein worked with for its role in facilitating his sex trafficking organization,” they wrote in a statement. jointly Boies Schiller Flexner and Edwards Pottinger, the law firms representing the alleged victims,

Without commenting on the deal, Deutsche Bank referred to a statement it had issued in 2020: “We acknowledge our mistake in accepting Epstein in 2013 and shortcomings in our processes, and we have learned from our mistakes and weaknesses.”

It is not clear how the agreement reached by Deutsche Bank will influence two other pending lawsuits against JP Morgan. The investment bank had Epstein among its clients for 15 years (until 2013). He is now being sued by a woman, listed in court documents as the generic name Jane Doe 1, and the US Virgin Islands, where Epstein had a home on the private island of Little St James.

According to the lawsuits, former JP Morgan employee (and former Barclays CEO) Jes Staley “personally saw the victims” and even “visited young girls at Epstein’s apartments” as well as exchanged with the late corruptor of minors. 1,200 emails containing photos of young women in seductive poses, referred to as Disney princesses.

JP Morgan has said the allegations against the bank are “misplaced and without merit” and is suing Staley in an attempt to hold him accountable for any penalties the bank may face. The financial entity did not want to comment on the agreement reached by Deutsche Bank.

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