Major Banks Sued Over Epstein Financial Connections
A woman who says she was abused by the late financier Jeffrey Epstein has filed lawsuits against Bank of America and the Bank of New York Mellon, according to court documents reviewed by Reuters. The lawsuits allege the financial institutions knowingly provided services that enabled Epstein’s sex trafficking operation to continue for years.
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Legal Background and Previous Settlements
The plaintiff, identified in court papers as Jane Doe, is represented by law firms that previously secured substantial settlements with other major banks. According to the report, these firms obtained $75 million from Deutsche Bank and $290 million from JPMorgan Chase over similar allegations regarding their financial ties to Epstein. Sources indicate neither bank admitted wrongdoing in those settlements.
Specific Allegations Against Financial Institutions
The lawsuit against Bank of America states the plaintiff opened an account in 2013 at the direction of Epstein’s former accountant, Richard Kahn. Analysts suggest the bank should have identified suspicious activity when Kahn regularly sent rent payments through the account and later placed her on the payroll of what the lawsuit describes as a “sham company.”
Regarding BNY Mellon, the report states the bank provided a $160 million line of credit to MC2, a modeling agency that allegedly served as a front for Epstein’s trafficking operations. The lawsuit claims BNY Mellon processed approximately $378 million in payments to women trafficked by Epstein, according to court documents.
Regulatory Compliance Questions
Both lawsuits contend the banks failed to file required Suspicious Activity Reports with the U.S. Treasury Department. Legal experts suggest such reports could have helped law enforcement intervene earlier in Epstein’s activities. Epstein had previously pleaded guilty to state prostitution charges in Florida in 2008, which the lawsuits argue should have heightened the banks’ scrutiny of his financial activities.
Broader Political and Investigative Context
The Epstein case continues to generate political and legal repercussions. According to reports, the House Oversight Committee is investigating the circumstances surrounding Epstein’s operations and his connections to powerful figures. Epstein died by suicide in 2019 while awaiting trial on federal sex trafficking charges.
Bank of America declined to comment on the litigation, while BNY Mellon did not immediately respond to requests for comment, according to the Reuters report. The plaintiff is seeking unspecified damages from both institutions.
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This coverage is based on reporting from Reuters news service and does not constitute original investigation.
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