The property of late intercourse trafficker Jeffrey Epstein has agreed to pay as much as $35 million to resolve a long-running class motion lawsuit introduced by survivors who say they have been sexually abused or trafficked by Epstein and whose authorized claims remained unresolved years after his demise. The settlement, disclosed in federal court docket filings on Thursday in Manhattan, nonetheless requires judicial approval earlier than it turns into remaining.
The lawsuit, first filed in 2024, alleged that two of Epstein’s former advisers, his private lawyer Darren Indyke and his longtime accountant Richard Kahn, facilitated and aided his trafficking operations by creating and managing a posh monetary construction that helped conceal his abuses and protect his belongings. Each males, who additionally function co-executors of Epstein’s property, denied any wrongdoing however agreed to the settlement to carry finality to the litigation.
Beneath the proposed phrases, the property pays as much as $35 million if no less than 40 class members are eligible to obtain compensation. If fewer than 40 qualify, the payout could be about $25 million, in response to particulars in court docket paperwork. The settlement doesn’t embody any admission of legal responsibility by Indyke or Kahn, and neither has been accused of taking part instantly in Epstein’s intercourse abuse crimes.
Authorized representatives for survivors, together with the agency Boies Schiller Flexner, introduced the settlement in a quick and beforehand helped attain $365 million of settlements with JPMorgan Chase and Deutsche Financial institution after accusing them of enabling Epstein’s community. A federal decide should nonetheless approve the deal earlier than funds can proceed.
The settlement comes as a part of a number of authorized and monetary injunctions tied to Epstein’s property, which has been embroiled in litigation since his demise in August 2019 at age 66 whereas in custody awaiting trial on federal intercourse trafficking costs. On the time of his demise, Epstein’s property was valued at roughly $600 million, and substantial parts of his wealth have already been used to fulfill authorized judgments and compensation funds.
Since 2019, the property and its executors have pursued a number of avenues to resolve claims by survivors and different entities. Between 2019 and 2021, greater than 135 girls obtained $121 million in compensation by a sufferer fund established by the property. The property additionally reached a $105 million settlement with the U.S. Virgin Islands authorities over alleged fraud and environmental violations related to Epstein’s properties there.
Along with settlements with the property itself, survivors have secured important payouts from monetary establishments tied to Epstein’s operations. JPMorgan Chase agreed to pay $290 million and Deutsche Financial institution $75 million to resolve separate class motion claims alleging their failure to behave on crimson flags about Epstein’s actions as a consumer.
The 2024 class motion lawsuit was notable as a result of it stemmed from accusations towards the advisers quite than Epstein instantly. Plaintiffs alleged that Indyke and Kahn enabled Epstein’s abuse by serving to him construction enterprise entities and monetary preparations that obscured the true nature of his conduct and prolonged the longevity of his community.
Indyke, a lawyer who served Epstein for many years, has been on the heart of ongoing scrutiny into how Epstein sustained his operations over time. Indyke has already overseen important settlements and restitution payouts from the property and has been subpoenaed by the Home Oversight Committee as a part of broader investigations into Epstein’s community and the system of pros who supported it.
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