- Jeffrey Epstein’s accusers are suing Deutsche Bank and JPMorgan, according to filings.
- Plaintiffs’ lawyers accuse banks of ignoring red flags around Epstein’s activities.
- Epstein would send money to young women and withdraw large sums to pay victims, according to the lawsuits.
People who accused Jeffrey Epstein of sexual abuse are suing Deutsche Bank and JPMorgan, accusing the banks of enabling the late billionaire’s alleged ‘sex trafficking business’.
Two filings filed Thursday in federal court in New York, and shared with Insider, accused the banks of facilitating the financier’s financial activities which they said should have come under greater scrutiny given his status. registered sex offender. The Wall Street Journal first reported the story.
“Deutsche Bank also knew that Epstein would use forceful means, threats of force, fraud, abuse of legal process, exploitation of power imbalances and various other forms of coercion to bring young women and girls to engage in commercial sex acts,” the lawsuit said.
The lawsuit cites a 2020 investigation by the New York State Department of Financial Services into Deutsche’s ties to Epstein and Epstein-related entities in which the bank agreed to pay $150 million to resolve the case after finding that Deutsche Bank failed to properly monitor Epstein’s financial activity.
A Deutsche Bank spokesperson told Insider in a statement, “We believe this claim is unfounded and will present our case in court.”
JPMorgan is being sued over Epstein’s ‘symbiotic’ relationship with Jes Staley, who previously headed its private banking division. Staley resigned as CEO of Barclays in November 2021 after an investigation by UK regulators into his links to Epstein.
“To put it plainly, Epstein needed a bank that knew he was engaging in illegal activity and didn’t care – because the bank only cared about the money it made from his relationship. with Epstein,” the JPMorgan lawsuit said.
An anonymous woman filing a complaint against JPMorgan, a ballet dancer who lived in New York, said she was assaulted and trafficked by Epstein and his friend multiple times over several years. The lawsuit says large sums were withdrawn from JPMorgan’s accounts to pay the victims.
JPMorgan did not immediately respond to a request for comment from Insider.
Another anonymous accuser suing Deutsche says she was sexually abused by Epstein and trafficked with his friends from around 2003 to around 2018, during which time she was paid in cash. The lawsuit says Deutsche ignored several “red flags,” including multiple payments to young women and substantial cash withdrawals.
The plaintiffs’ attorneys are seeking unspecified damages from the banks.
In a statement to Insider, attorneys for Edwards Pottinger LLC, representing plaintiffs, said, “If you’ve ever been victimized by Jeffrey Epstein or any of his friends, give us a call.
“If you were around Epstein, unwittingly helped him in any way, or have information that can help us bring those responsible to justice, it’s never too late to do what We need your help to do good for these brave survivors.”