Deutsche Bank AG (DBKGn.DE) will pay $75 million to settle a lawsuit by women who claim Jeffrey Epstein abused them and that the German bank facilitated his sex trafficking.
Late Wednesday, Epstein’s accusers’ lawyers disclosed the settlement of their proposed class action in Manhattan federal court. Needs court approval.

Deutsche Bank served Epstein from 2013 until 2018. New York City’s medical examiner called his suicide in jail in August 2019 while awaiting sex trafficking prosecution.

According to sources, the bank did not admit wrongdoing in the payment, stated the Wall Street Journal.

Deutsche Bank spokesperson Dylan Riddle declined to discuss the settlement but cited a 2020 statement in which the bank admitted to making Epstein a client.

He added that Deutsche Bank had invested over 4 billion euros in controls, processes, and training and hired more financial crime fighters.

“Many powerful individuals and institutions” enabled Epstein’s actions, according to the accusers’ lawyer David Boies. However, Deutsche Bank’s accountability is appreciated.”

Epstein’s accusers utilize Boies Schiller Flexner and Edwards Pottinger. Sept. 5 was the trial day.

The settlement’s impact on JPMorgan Chase & Co. (JPM.N), which faces similar but larger litigation from Epstein’s accusers and the U.S. Virgin Islands, where the financier lived, was unclear.

Epstein trafficked more women and girls while a JPMorgan customer from 1998 to 2013. Court documents describe the bank’s alleged neglect of Epstein’s actions.

JPMorgan did not reply to calls for comment after hours.

To offset its losses in the two lawsuits, it sues Jes Staley, a former private banking boss acquainted with Epstein.

Former Barclays Plc (BARC.L) CEO Staley. JPMorgan Chase subpoenaed Tesla Inc. (TSLA.O) CEO Elon Musk.

Jane Doe 1, the Deutsche Bank plaintiff, said Epstein sexually abused her from 2003 until 2018.

JPMorgan’s accusations are led by a different Jane Doe 1, a former ballet dancer who alleged Epstein trafficked her from 2006 to 2013.

Deutsche Bank settled a U.S. shareholder complaint alleging weak governance when dealing with dangerous, ultra-rich clients like Epstein for $26.25 million last September.

Jane Doe 1 v Deutsche Bank AG et al., Southern District of New York, No. 22-10018.