NEW YORK, June 16 (Reuters) – A U.S. decide on Friday granted preliminary approval to Deutsche Financial institution’s (DBKGn.DE) $75 million settlement with victims of Jeffrey Epstein who accused the financial institution of facilitating the late financier’s intercourse trafficking.
U.S. District Choose Jed Rakoff in Manhattan stated the settlement appeared “truthful, affordable, and enough.” He scheduled an Oct. 20 listening to to contemplate closing approval.
The settlement covers ladies who had been sexually abused or trafficked by Epstein or his associates from Aug. 19, 2013 till his obvious suicide in a Manhattan jail six years later.
Epstein died whereas awaiting trial on legal prices he trafficked younger ladies and teenage ladies for intercourse.
Attorneys for Epstein’s accusers and Deutsche Financial institution reached the settlement final month. Rakoff delayed preliminary approval for extra specifics about who certified as members of the category.
The lawsuit was led by a sufferer often known as Jane Doe 1, who stated Epstein sexually abused her from 2003 to 2018 and accused Deutsche Financial institution of lacking crimson flags of his abuses.
Epstein had been a Deutsche Financial institution shopper from 2013 to 2018, after being a JPMorgan Chase (JPM.N) shopper for 15 years.
JPMorgan on Monday reached a $290 million settlement in precept with Epstein’s accusers.
It additionally faces a lawsuit by the U.S. Virgin Islands, the place Epstein owned two neighboring islands, which accused JPMorgan of ignoring Epstein’s sexual abuses and letting him arrange a intercourse trafficking operation there.
JPMorgan has blamed prime U.S. Virgin Islands officers, saying they appeared away from Epstein’s crimes in trade for money and perks.
The case is Doe 1 v Deutsche Financial institution AG et al, U.S. District Court docket, Southern District of New York, No. 22-10018.
Reporting by Jonathan Stempel in New York; Modifying by Leslie Adler and Daniel Wallis
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