Deutsche Bank To Pay $75 Million Over Sex Trafficking Lawsuit From Jeffrey Epstein's Accusers
Portfolio Pulse from Bibhu Pattnaik
Deutsche Bank AG (NYSE: DB) has received preliminary approval for a $75 million settlement with victims of Jeffrey Epstein's sex-trafficking enterprise. The victims alleged that the bank's collaboration enabled Epstein's operation. JPMorgan Chase & Co (NYSE: JPM) also reached a $290 million settlement with Epstein's victims last week.
June 18, 2023 | 4:59 pm
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NEGATIVE IMPACT
Deutsche Bank receives preliminary approval for a $75 million settlement with Jeffrey Epstein's victims, potentially impacting the bank's reputation and finances.
The settlement is directly related to Deutsche Bank's alleged collaboration with Epstein's sex-trafficking enterprise. This could negatively impact the bank's reputation and finances in the short term, as they will have to pay the settlement amount.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
JPMorgan Chase & Co reached a $290 million settlement with Epstein's victims last week, which may have a negative impact on the bank's reputation and finances.
JPMorgan's settlement with Epstein's victims is mentioned in the article, and it may have a negative impact on the bank's reputation and finances in the short term, as they will have to pay the settlement amount.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50