Deutsche Bank To Pay $75M To Epstein Victims

Facts

• On Wednesday, the lawyers for women who claim billionaire sex trafficker Jeffrey Epstein sexually abused them said Deutsche Bank has agreed to pay $75M to settle a lawsuit that had been set to go to trial in September.¹
• An Epstein victim, identified as "Jane Doe" in court proceedings, alleged that the bank continued to do business with Epstein despite evidence that his accounts were being used for illicit purposes; she claimed they earned the financier millions while "facilitating Epstein's sex trafficking."²
• Epstein continued to be a Deutsche Bank client from 2013 to 2018, even after he was accused of abuse by 40 underage girls and declared a registered sex offender. In 2020, Deutsche Bank was fined $150M by New York financial regulators for its dealings with Epstein.¹
• David Boies, a lawyer for the plaintiffs, said that Epstein's abuse could not have occurred without the "collaboration and support" of powerful individuals and institutions, adding that the victims "appreciate Deutsche Bank's willingness to take responsibility for its role" in facilitating the abuses.³
• Though it maintained it had provided only "routine" services to the deceased trafficker and denied having played any part in his sexual offenses, Deutsche Bank admitted that taking Epstein as a client had been a mistake.⁴
• JPMorgan Chase is facing a similar lawsuit from the US Virgin Islands — where Epstein maintained a home — over their connections to him, with CEO Jamie Dimon and Elon Musk facing subpoenas over the case. The government alleges the bank was aware of Epstein's activities yet kept him on as a client, a charge they deny.⁵

Sources: ¹Guardian, ²BBC News, ³Reuters, ⁴Al Jazeera, and ⁵Forbes.

Narratives

• Establishment-critical narrative, as provided by The Washington Times. Years after his death, more and more information about this international sex trafficker and his reach continues to trickle into the public domain. From his sway over the powerful, to the unseen level of discretion granted to him by authorities and banks, conspiracy theories about Epstein are quickly turning into conspiracy facts, as everyone from Musk to the director of the CIA seems to be being unveiled as part of his web of influence. Deutsche Bank would rather part with $75M than have their dirty laundry aired in court.
• Pro-establishment narrative, as provided by NPR Online News. Let us dispense with the conspiracies and focus on avenues to provide justice for his victims. Epstein was responsible for many heinous crimes, but they are overshadowed by conspiracy fanatics who have abandoned the evidence. This lawsuit never alleged that Deutsche Bank was involved with sex trafficking, and raising that unsubstantiated claim obfuscates proper investigation with the distracting suggestion that Epstein was involved in some global web of secrets. We need to focus less on fiction and more on helping Epstein's victims receive some compensation for what they have suffered.