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Bank of America’s defense? They claimed to be providing merely “routine services.”
The Deposition That Never Happened
Black was set to testify on March 17, eight hours of sworn testimony with five hours controlled by the victims’ lawyers. Judge Jed Rakoff had already labeled Black a “critical witness.”
Black isn’t a defendant. Yet he funneled $170 million to a convicted sex offender, framing it as “tax and estate planning advice.”
Senate investigators point out that this total exceeds Apollo’s own internal review by $12 million. Even more concerning, Bank of America waited seven years to report the transfers to Treasury, raising serious questions about possible violations of federal money laundering laws.
Black also paid $62 million to the U.S. Virgin Islands to gain criminal immunity for his Epstein-related payments. His own agreement with the USVI admits, “Jeffrey Epstein used the money Black paid him to partially fund his operations in the Virgin Islands.” That’s not speculation—it’s a signed legal document.
Wall Street’s Epstein Problem Grows Costlier
This marks the third major U.S. bank to resolve Epstein-related claims.
JPMorgan Chase paid $290 million to victims in 2023 after a judge concluded the bank “knew or should have known” about Epstein’s trafficking for years. Deutsche Bank followed, shelling out $75 million for processing suspicious payments disguised as tuition fees, even after JPMorgan severed ties.
Judge Rakoff presided over both settlements and is now overseeing the Bank of America case. A hearing to approve the latest settlement is scheduled for April 2, though terms remain undisclosed.
What’s clear is that the same legal team that secured $365 million from JPMorgan and Deutsche Bank is behind this case. Bank of America tried to dismiss the lawsuit and failed, ultimately agreeing to settle.
The Pattern Is Clear
Epstein didn’t operate alone. He relied on the silent cooperation of institutions that handled his money, ignored glaring warnings, and profited from the transactions. Every settlement is another admission—without admitting guilt—that the bank saw red flags and chose profit over prevention.
Meanwhile, the victims paid with years of their lives. The banks pay with other people’s money.
Leon Black secured immunity with $62 million, dodged eight hours under oath, and watches his son serve in the Trump administration as Senate investigators still struggle to get clarity on $170 million. Three banks have settled, yet no executive faces criminal charges.
Every settlement is heralded as justice in the media. In reality, those who enabled Epstein simply write checks, deny wrongdoing, and return to their offices.
That isn’t justice. That’s the cost of doing business with one of the most protected predators in American history. Watch closely—those who escape the consequences are counting on public forgetfulness.
