2023: Deutsche Bank Settles Epstein-Related Lawsuit for $75 Million
Deutsche Bank agrees to pay $75 million to settle a lawsuit brought by victims alleging the German bank facilitated Epstein's sex trafficking by providing him banking services after his 2008 conviction.
People Involved
In May 2023, Deutsche Bank AG agreed to pay $75 million to settle a lawsuit brought on behalf of Epstein’s victims who alleged that the German bank had enabled Epstein’s sex trafficking operation by providing him with banking and financial services.
Deutsche Bank maintained a banking relationship with Epstein from approximately 2013 to 2018 — a period during which Epstein was already a registered sex offender following his 2008 conviction. The lawsuit alleged that the bank ignored warning signs and conducted transactions that directly facilitated Epstein’s criminal activities, including payments to women and girls he abused.
In July 2020, Deutsche Bank had already agreed to pay a $150 million penalty to New York financial regulators for its Epstein-related compliance failures. The May 2023 settlement resolved the separate victim class action.
As part of the settlement, Deutsche Bank did not admit wrongdoing but agreed to the payment and to cooperation with victim advocates.
The Deutsche Bank settlement came approximately one month before JPMorgan’s larger $290 million settlement, and together the two bank settlements represented a combined $365 million in financial institution accountability — a significant financial consequence demonstrating that banks could face material civil liability for willfully ignoring trafficking red flags.
Victim advocates and anti-trafficking organizations cited the settlements as important precedents for financial industry accountability in trafficking cases.