Profit from sex trafficking?: Deutsche Bank defends itself against Epstein lawsuit

Profit from sex trafficking?
Deutsche Bank is defending itself against Epstein’s lawsuit

From 2013 to 2018 Jeffrey Epstein is a customer at Deutsche Bank. Looking back on the business relationship with a man who sexually exploited young women, the money house says it was a mistake that shouldn’t have happened. However, the bank does not want to pay any damages.

Deutsche Bank and JPMorgan Chase have filed a motion to dismiss lawsuits in the United States related to their dealings with sex offender Jeffrey Epstein. They neither participated in nor benefited from their former client’s sex trade, the two banks said in filings filed with federal court in Manhattan.

A group of unnamed women filed lawsuits against the banks at the end of November. They accuse them of financially profiting from the late hedge fund manager who has been accused of sexually exploiting teenage women.

JPMorgan and Deutsche Bank argue that the women could not have shown that the institutes violated human trafficking laws. They are not responsible for the abuse committed by Epstein, nor are they obligated to protect women from Epstein. A lawyer for the women said the Nov. 24 lawsuit speaks for itself. It is disappointing that the banks continue to refuse to take responsibility in this context.

“It should never have happened”

Epstein pleaded guilty in 2008 to forcing a minor into prostitution. He was sentenced to 18 months in prison. After being arrested again on allegations of sex trafficking, he took his own life in custody in August 2019 at the age of 66.

Epstein was a client of JPMorgan from around 2000 to 2013 and Deutsche Bank from 2013 to 2018. “It was a serious mistake that we accepted him as a customer in 2013 – it should never have happened,” wrote CEO Christian Sewing to employees in 2020. In July 2020, the New York banking regulator fined the bank $150 million for misconduct in its relationship with Epstein, among other things.

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