US District Judge Jed Rakoff, who granted preliminary approval for the deal in June, signed off on the settlement during a court hearing in Manhattan. “This is, in the court’s view, a terrific settlement,” Rakoff said in court. The bank did not acknowledge any wrongdoing as part of the settlement. The settlement covers women who have said they were sexually abused or trafficked by Epstein or his associates from Aug.
Epstein had been a Deutsche Bank client from 2013 to 2018, after being a JPMorgan Chase client for 15 years. Deutsche Bank has said it made an error in taking on Epstein as a client. Rakoff approved fees of 30% of the settlement amount for the lawyers representing the women. One of the lawyers, David Boies, said after the hearing that the case “was a wake-up call for banks” that they must keep track of who their clients are.
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Source: CNBC - 🏆 12. / 72 Read more »