Deutsche Bank will pay compensation to victims of Jeffrey Epstein

Germany-based banking giant Deutsche Bank has agreed to pay $75 million in compensation in a lawsuit brought by the victims of Jeffrey Epstein, who was accused of crimes including prostitution and child abuse and died in prison.

The bank, which kept Epstein, who was accused of crimes including prostitution and human trafficking, as a client and allegedly profited from these crimes, was sued by Epstein’s victims.

The victim, nicknamed the Jane Doe, who said Epstein abused her, first filed a lawsuit against Deutsche Bank in November. The victim claimed that the German bank “chose profit over compliance with the law” and accused the bank of “making millions of dollars through Epstein’s illegal human trafficking.”

APPLICANTS WILL RECEIVE $5 MILLION DOLLARS EACH

According to banking sources who spoke to the Financial Times, the administration considered the victims’ claims and agreed to provide compensation. The sources said that the compensation will be shared among the victims and that the plaintiffs could receive $5 million each.

“The settlement demonstrates that one of Epstein’s financial partners is responsible for the role it played in facilitating the human trafficking organization,” Doe’s attorneys, Edwards Pottinger and Boies Schiller Flexner, said in a statement.

JPMORGAN IS ALSO CHARGED

Previously, US bank JPMorgan cut ties with the perverted billionaire in August 2013, after which Deutsche Bank accepted Epstein as its client.

Deutsche worked with Epstein until December 2018. According to court documents, Epstein and the entities it controls opened more than 40 accounts with the bank and deposited more than $110 million in total assets.

There were 3 different cases in the financial part of the Epstein case. Another victim had previously sued US bank JPMorgan Chase and the US Virgin Islands, where Epstein’s home is located.

WHAT HAPPENED?

Jeffrey Epstein was found dead in prison while in custody by sexual abuse, pedophilia and prostitution rings.

From 2002 to 2005, Epstein awaited trial on charges of prostitution with underage girls at his Manhattan mansion and Palm Beach estate.

WHY ARE THE CASES OPEN?

Two women, victims of Jeffrey Epstein, who died in 2019 in the prison where he was detained for multiple sexual crimes, filed a lawsuit against JP Morgan and Deutsche Bank, two banks where the American billionaire works.

The women accused the banks of claiming that Epstein could not operate the prostitution ring without the support of financial institutions.

A woman who sued JPMorgan accused the bank of “providing special treatment to a sex trader.” The plaintiff alleged that thanks to the special treatment of the bank, the crime was able to continue and the bank led to the exploitation of young women.

Another plaintiff claimed that Deutsche Bank was “the bank that Epstein used to run his sexual exploitation and prostitution operation.”