According to a newspaper report, Deutsche Bank has agreed to a settlement payment of 75 million dollars in the process of doing business with sex offender Jeffrey Eppstein. The bank wants to settle a class action lawsuit in which it is accused of having profited financially from the sex trafficking ring of the late hedge fund manager Jeffrey Epstein, the Wall Street Journal reported on Wednesday, citing lawyers for the plaintiffs.
The financial institution had previously requested that the lawsuit be dismissed. Deutsche Bank did not immediately respond to a Reuters request for comment.
Epstein pleaded guilty in 2008 to forcing a minor into prostitution. He received an 18-month prison sentence for this. After being arrested again on sex trafficking charges, he took his own life in pre-trial detention in August 2019 at the age of 66. Epstein was a client of Deutsche Bank from 2013 to 2018.