This article was last updated on May 18, 2023
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Deutsche Bank Reaches Settlement with Jeffery Epstein’s Victims
Deutsche Bank has agreed on a settlement worth $75 million with the victims of Jeffrey Epstein’s sexual abuse. The German bank has resolved a lawsuit brought by one of Epstein’s victims who claimed that the bank facilitated the late billionaire’s abusive practices by continuing to provide him with financial services. Prosecutors revealed that Deutsche Bank did not intervene in suspicious transactions. Epstein was a client of the bank between 2013 and 2018.
Justice for Epstein’s Victims
The bank’s agreement will allow the dozens of Epstein survivors to have faith in the justice system, knowing that all individuals and corporations who facilitated his sexual abuse and trafficking will be held accountable. Epstein had been a sex offender since 2008, following his conviction of child molestation in Florida. Deutsche Bank has apologized for its mistake and paid off the victims.
Fine for Deutsche Bank
Deutsche Bank has previously been fined a massive $150 million by the US authorities for failing to supervise, including Epstein’s financial affairs. The financial institution admitted its shortcomings in monitoring suspicious clients, which resulted in the bank processing transactions worth millions of dollars without proper scrutiny. They have had to take notice of any suspicious payment and should intervene, but the bank ignored its legal obligation.
Fresh Lawsuit filed on JPMorgan Chase
A recent lawsuit involving Epstein involves JPMorgan Chase. An Epstein victim also filed this lawsuit, citing that JPMorgan enabled Epstein’s sex trafficking by facilitating his financial transactions. The billionaire was the bank’s customer from 1998 to 2013. JPMorgan was accused of withholding warning signs about Epstein’s practices.
Investigation on Elon Musk
The US Virgin Islands has subpoenaed Elon Musk to probe all the mutual conversations held between Musk and JPMorgan around Epstein. Musk’s relationship with Epstein is doubtful. The authorities are suspecting that JPMorgan missed warning signs regarding Epstein’s scandalous practices. The Tesla CEO and Twitter top man exchanged communication with the late billionaire, and the authorities want to scrutinize those correspondences as well.
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