{"id":3855,"date":"2023-10-21T00:10:51","date_gmt":"2023-10-21T00:10:51","guid":{"rendered":"https:\/\/infundpros.com\/business\/us-judge-approves-deutsche-bank-75-million-settlement-with-epstein-accusers\/"},"modified":"2023-10-21T00:10:51","modified_gmt":"2023-10-21T00:10:51","slug":"us-judge-approves-deutsche-bank-75-million-settlement-with-epstein-accusers","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=3855","title":{"rendered":"US judge approves Deutsche Bank $75 million settlement with Epstein accusers"},"content":{"rendered":"
\n

\n Deutsche Bank on Friday won final approval from a US judge for a $75 million settlement it reached with victims of Jeffrey Epstein who had accused the German company of facilitating the late financier\u2019s alleged sex trafficking.\n <\/p>\n

\n US District Judge Jed Rakoff, who granted preliminary approval for the deal in June, signed off on the settlement during a court hearing in Manhattan.\n <\/p>\n

\n \u201cThis is, in the court\u2019s view, a terrific settlement,\u201d Rakoff said in court.\n <\/p>\n

\n The bank did not acknowledge any wrongdoing as part of the settlement.\n <\/p>\n

\n The settlement covers women who have said they were sexually abused or trafficked by Epstein or his associates from Aug. 19, 2013, until his death in a Manhattan jail six years later as he awaited trial on criminal charges that he trafficked young women and teenage girls for sex.\n <\/p>\n

\n New York City\u2019s medical examiner ruled Epstein\u2019s death a suicide.\n <\/p>\n

\n The lawsuit was led by a woman known as Jane Doe 1, who said Epstein sexually abused her from 2003 to 2018 and accused Deutsche Bank of missing red flags of his abuses. Epstein had been a Deutsche Bank client from 2013 to 2018, after being a JPMorgan Chase client for 15 years.\n <\/p>\n

\n Deutsche Bank has said it made an error in taking on Epstein as a client.\n <\/p>\n

\n Rakoff approved fees of 30% of the settlement amount for the lawyers representing the women.\n <\/p>\n

\n One of the lawyers, David Boies, said after the hearing that the case \u201cwas a wake-up call for banks\u201d that they must keep track of who their clients are.\n <\/p>\n

\n Rakoff granted preliminary approval to New York-based financial services company JPMorgan\u2019s $290 million settlement over similar claims in June. A hearing over final approval in that case is set for Nov. 9.\n <\/p>\n

\n JPMorgan was also sued by the US Virgin Islands \u2014 where Epstein owned two private islands \u2014 over claims that the bank aided Epstein. JPMorgan last month agreed to pay $75 million to settle those claims.\n <\/p>\n

\n JPMorgan has said it regrets its association with Epstein.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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