It is probably the most significant compensation sum ever paid by a bank in the USA for sexual abuse: Deutsche Bank pays 75 million dollars to a woman who Jeffrey Epstein had abused. She accused the bank of ignoring evidence of his machinations to continue doing business with him.
Deutsche Bank will pay $75 million (about 69 million euros) to a victim of millionaire sex offender Jeffrey Epstein. That is probably the largest compensation sum ever produced by a bank in U.S. history for sexual abuse, announced the Edwards Pottinger law firm, which represented the woman in court. It said the settlement would encourage dozens of Epstein victims to sue people and institutions that aided his sex trafficking.
Epstein had been convicted of prostituting minors and was charged and arrested in 2019 for other crimes against minors. Before the trial began, he took his own life in prison. The plaintiff accused Deutsche Bank of knowing about Epstein’s schemes but overlooking evidence to continue doing profitable business with him.
Deutsche Bank would not comment on Thursday’s settlement but pointed to a 2020 statement in which it said its dealings with Epstein were a mistake. It had invested more than 4 billion euros in improving controls, procedures and training, and hired more staff to fight financial crime, spokesman Frank Hartmann said.
The bank had acknowledged “routine banking services” for millionaire Epstein from 2013 to 2018 and stressed it had also not been accused of complicity by the plaintiff.