Bank of America has agreed to a $72.5 million class-action settlement over alleged facilitation of Jeffrey Epstein’s sex-trafficking network, with the bank arguing the deal is not an admission of liability.

The bank says it did not commit crimes and the settlement, filed in a New York federal court, aims to resolve claims as a judge reviews the terms.

Judge Jed S. Rakoff oversaw earlier proceedings and had indicated the bank could face claims of knowingly benefiting from Epstein’s trafficking and obstructing enforcement before a potential settlement was reached.

A hearing on the proposed settlement is scheduled for Thursday, and if approved, a scheduled May trial would be canceled.

The settlement amount was disclosed as US$72.5 million, with prior signals from lawyers that a settlement in principle had been reached.

plaintiffs’ lawyers, David Boies and Bradley Edwards, say the deal provides financial relief for victims and may allocate up to about 30% of the settlement for legal fees (around $21.8 million).

Leon Black is identified as a key witness in the filing, though he is not a defendant and avoided deposition after the settlement.

The filing notes Black’s payments through a Bank of America account as part of the context around the Epstein-related claims.

The suit was filed by a Florida woman who alleged Epstein abused her extensively between 2011 and 2019 and that she held two Bank of America accounts tied to Epstein’s team.

Allegations include Epstein paying her rent and a phony job, controlling her immigration status, and abusing her sexually on more than 100 occasions.

Epstein died in a Manhattan federal jail in August 2019 while awaiting trial on federal sex-trafficking charges, an event that shapes the context of these ongoing cases.

DOJ releases extensive documents showing Epstein’s regular contact with high-profile individuals long after his 2008 Florida conviction, fueling scrutiny of financial institutions.