Judge allows parts of Epstein victims' suit vs Bank of America; BNY case tossed

US District Judge Jed Rakoff allowed portions of a proposed class-action lawsuit by Jeffrey Epstein's victims against Bank of America to move forward on Thursday, while dismissing the entire, similar suit against BNY (Bank of New York Mellon Corp.). The victims' complaint said Bank of America ignored red flags and facilitated millions of dollars into Epstein's accounts, including more than $170 million from former Apollo CEO Leon Black, who said he paid Epstein for tax advice; the suit said some funds were used to pay hush money.

Rakoff dismissed claims that the bank "knowingly participated" in Epstein's sex-trafficking operation and that it failed to follow know-your-customer laws, but he allowed the victims' claim that Bank of America was a "knowing beneficiary" to proceed. Rakoff tossed the entire lawsuit against BNY, which had alleged the bank ignored red flags while processing Epstein-related wire transfers and extended credit to a modeling agency financed by Epstein and owned by Jean-Luc Brunel, who died in his prison cell in 2022 while awaiting trial in France.

David Boies, an attorney for the victims, said he would appeal the dismissal: "We are pleased that the Court sustained our sex trafficking claims against Bank of America, and we look forward to trying that case in May," he said.

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