Efforts are underway to identify victims eligible for compensation under a $72.5 million settlement involving Bank of America over its past links to convicted offender Jeffrey Epstein.
Lawyers leading the case believe around 60 to 75 women may qualify for payouts, though they say more potential claimants could still come forward as outreach continues.
The case stems from a lawsuit filed by a woman using the name “Jane Doe,” who accused the bank of overlooking suspicious financial activity connected to Epstein’s operations and benefiting from the relationship. The bank has denied any involvement in the crimes but agreed to settle the case.
US District Judge Jed Rakoff has instructed legal teams to ensure wide public notice so that all possible victims are informed before the final approval hearing set for August 27.
The settlement adds to earlier agreements involving major financial institutions. In 2023, JPMorgan Chase and Deutsche Bank also reached settlements with Epstein’s victims over similar allegations.
Judge Rakoff said financial compensation cannot fully address the harm suffered but stressed that victims have the right to seek accountability from institutions that may have failed to act.
Epstein, a wealthy financier who died in custody in 2019, had faced long-standing accusations of abusing young women and girls over several years.
Lawyers said the current process aims to ensure that all eligible victims are included before the settlement is finalised.
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