NEW YORK (AP) 鈥� Bank of America has tentatively settled a lawsuit claiming it ignored suspicious financial transactions involving Jeffrey Epstein while he was sexually abusing hundreds of girls and women.
The proposed settlement was revealed in filings in Manhattan federal court on Monday, the same day that billionaire financier Leon Black was originally scheduled to be deposed in the case. Terms were not disclosed. The bank declined to comment through a spokesperson.
Though not a defendant, Black was recently described as a 鈥渃ritical witness鈥� in the case by Sigrid McCawley, a lawyer for Epstein victims.
During a hearing last week, a lawyer for Black persuaded Judge Jed S. Rakoff to postpone Black’s deposition for 10 days on the grounds that the parties were close to settling. The lawyer, Michael Carlinsky, did not immediately respond to a request for comment Tuesday.
In a statement, McCawley paid tribute to the 鈥渂rave and fearless voices鈥� of Epstein victims, saying their 鈥渞oad to justice鈥� has been long and trying, but the Bank of America settlement 鈥渋s one more step on the road to much deserved justice.鈥�
The October lawsuit accused the bank of ignoring $170 million Black paid from a Bank of America account to Epstein purportedly for 鈥渢ax and estate planning advice.鈥�
It said the bank ignored 鈥渘umerous red flags鈥� of improper financial dealings, and 鈥渨ent far beyond what a non-complicit bank would have done and instead assisted Epstein in setting up the necessary financial structure to operate his sex-trafficking venture.鈥�
The lawsuit, brought on behalf of a woman identified in court papers only as Jane Doe and 鈥渁ll others similarly situated,鈥� said the woman was living in Russia when she met Epstein in 2011 and was 鈥渃oerced into a cult-like life.鈥�
It said she was paid by Epstein through a Bank of America account as she was controlled 鈥渇inancially, emotionally, and psychologically鈥� by Epstein from 2011 through 2019 as he sexually abused her on at least 100 occasions, including raping her and forcing her to engage sexually with other women for his sexual gratification.
The lawsuit alleged that Epstein paid her rent and income from a phony job through a Bank of America account, and held her immigration status 鈥渙ver her head, until her ultimate escape when Jeffrey Epstein died.鈥�
Epstein died in a federal jail in August 2019 as he awaited trial on sex trafficking charges. His death was ruled a suicide. He was known for his connections with , and the lawsuit said he used it to his advantage in his attacks on women.
The recent of millions of pages of documents from law enforcement probes of Epstein show he had regular contact with CEOs, journalists, scientists and prominent politicians long after his 2008 conviction in state court in Florida on sex crimes charges.
A review of the documents by The Associated Press and other news organizations showed Black鈥檚 name appeared 8,200 times, though that figure likely includes some duplicate records.
In March 2021, as CEO of Apollo Global Management, saying he wanted to focus on his family, health, and 鈥渕any other interests.鈥�
A committee of the company’s board had two months earlier concluding that Epstein had advised Black personally on estate planning, tax issues, charitable giving and running his 鈥渇amily office,鈥� but provided no services to Apollo or invested in no Apollo funds.
The report also said the review 鈥� which Black requested 鈥� found 鈥渘o evidence鈥� that he was involved with Epstein鈥檚 alleged criminal activities 鈥渋n any way鈥� or 鈥渁t any time.鈥�
In a statement Tuesday, Sen. Ron Wyden, an Oregon Democrat who sits on the Senate Finance Committee, said the bank’s decision to settle was a 鈥渟tep towards justice and a vindication of my staff’s investigation into how major Wall Street banks enabled Epstein’s crimes.鈥�
He said the bank 鈥渨illfully looked the other way鈥� as Black paid Epstein the $170 million through 鈥渉uge wire transfers,鈥� often in $10 million or $20 million installments.
___
Associated Press Writer Martha Bellisle in Washington contributed to this report.
Copyright © 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
