Bank of America Faces Lawsuit Over Jeffrey Epstein’s Sex Trafficking
A federal judge has ruled that claims of Bank of America’s “reckless disregard” of information related to Jeffrey Epstein’s sex trafficking have met the bar for an alleged victim’s lawsuit to move forward. The opinion and order detail U.S. District Court Judge Jed Rakoff’s Jan. 29 dismissal of four claims against BofA and all claims against BNY made by Jane Doe.
Accusations Against Bank of America
Rakoff allowed two claims against Bank of America to proceed, including accusations that the bank was a “knowing beneficiary” in a sex trafficking venture and that it obstructed the federal government’s enforcement of trafficking laws.
Rakoff’s opinion stated that an amended complaint “plausibly asserts that the bank turned a blind eye to these repeated, detailed allegations, some emanating from police reports widely circulated in the press, by utterly failing to engage in due diligence about them.”
A Bank of America spokesperson reiterated that the underlying facts have not been reviewed at this stage of the litigation and they look forward to a full review of the facts.
Class-Action Lawsuits
The class-action lawsuits filed in October by Jane Doe accused both Bank of America and BNY of participating in and benefiting from Epstein’s sex trafficking enterprise. The banks sought to dismiss the lawsuits, calling the allegations “threadbare” and “razor-thin.” Doe amended her complaints in December after Rakoff expressed skepticism about the suits.
Allegations Against Bank of America
Jane Doe claimed that Bank of America provided non-routine services that facilitated Epstein’s sex-trafficking operation between 2001 and 2019. She also alleged that the bank provided banking services to MC2, a fake modeling agency set up by Epstein and his associate to exploit young women.
Doe further claimed that Bank of America opened an account in her name in 2013 at the direction of Epstein’s associates, treated her as a preferred customer, and provided premier services despite her lack of income or wealth. Epstein and his associates wired tens of thousands of dollars into her account for transfers unrelated to her.
Judge’s Decision
Rakoff allowed two counts to proceed, stating that the bank had every reason to know that Jane Doe had no ability to earn legitimate income in the U.S. and Epstein had been previously convicted of sex crimes involving underage girls. The judge also noted suspicious transactions connected to Epstein’s accounts and the payments made to Epstein victims.
Conclusion
Additionally, Jane Doe plausibly alleged that a Bank of America employee had direct personal knowledge of Epstein’s sex trafficking venture. A trial has been scheduled for May 11 to address these claims.
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