Deutsche Bank agrees to settle Jeffrey Epstein-related class action for $26.3M

Deutsche Bank office

Deutsche Bank agreed to pay $26.25 million to settle a class-action lawsuit filed by a group of the bank’s investors over anti-money laundering (AML) compliance failures and deficiencies related to certain clients, including Jeffrey Epstein and Danske Bank’s Estonia branch.

The proposed settlement, filed Friday in U.S. District Court for the Southern District of New York, covers the period from March 2017 through September 2020. U.S. District Judge Jed Rakoff, who allowed the class action to proceed in June, still must approve the settlement.

Through a spokesman, Deutsche Bank declined to comment. The bank denied wrongdoing in agreeing to settle.

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