Deutsche Bank AG will pay $75 million to settle a proposed class-action lawsuit claiming it aided Jeffrey Epstein’s sex-trafficking ring, the Wall Street Journal reported Wednesday night.
The suit was filed by lawyers on behalf of an anonymous victim and others who accused the financier, who died by suicide in federal lockup in 2019, of sexual abuse and trafficking. The suit claimed Deutsche Bank
DB,
ignored red flags and did business with Epstein for five years despite knowing he was using the money from his accounts to further his sex trafficking.
Dozens of accusers are expected to be compensated by the settlement, the Journal said.
Deutsche Bank did not immediately respond to a MarketWatch email Wednesday night seeking confirmation or comment.
This story originally appeared on Marketwatch
