Two separate lawsuits brought forth by victims of Jeffrey Epstein against major financial institutions are now being placed on an accelerated judicial schedule. During a Monday court session, U.S. District Judge Jed Rakoff directed all attorneys involved to adhere to an expedited sequence of deadlines designed to move the litigation forward at a notably rapid pace. The cases, which target Bank of America and the Bank of New York Mellon (BNY), were filed in October and assert that both banks disregarded clear warning signs and failed to take meaningful action in response to suspicious financial activities associated with Epstein’s extensive sex‑trafficking network.
Judge Rakoff established firm procedural milestones, requiring that motions to dismiss be filed by November, setting oral arguments for December 15, and mandating that the entire discovery process—including the collection of evidence, document production, and all depositions—be completed no later than February 27. Should these matters advance to trial, the judge indicated that the cases would proceed consecutively, with one scheduled for May and the other to follow in June of 2026. This aggressive timeline underscores the court’s determination to avoid delay and ensure a thorough yet expedient judicial review of the serious allegations raised.
The complaint against Bank of America centers on claims that one of Epstein’s employees instructed a victim to open a personal account under her own name with the bank. According to the filing, that account was then used to pay her living expenses, including rent, while Epstein subjected her to ongoing sexual abuse over several years. The same account, the lawsuit alleges, became a conduit for other financial transactions that may have aided or concealed further acts of sex trafficking against additional women. In essence, the plaintiffs accuse the institution of having enabled, whether through negligence or willful blindness, the continuation of Epstein’s illicit activities.
The parallel lawsuit filed against BNY presents similarly grave accusations. It contends that the bank processed approximately $378 million in payments connected to Epstein’s victims but failed to identify or report those transactions as suspicious, as required under U.S. anti‑money‑laundering and compliance standards. Despite the magnitude and pattern of those funds, the plaintiffs argue, the institution neglected to exercise adequate oversight or scrutiny. In response, a spokesperson for BNY publicly denied the legitimacy of the claims, asserting that the lawsuit is without merit and that the bank intends to defend itself vigorously against all allegations. Bank of America, on the other hand, did not issue an immediate comment when approached by Business Insider for a statement.
Jeffrey Epstein died by suicide in jail in 2019 while awaiting trial on federal sex‑trafficking charges. His longtime associate and partner, Ghislaine Maxwell, was later convicted in 2021 for participating in the recruitment and exploitation of underage girls on Epstein’s behalf, and she is currently serving a 20‑year prison sentence. Together, their criminal enterprise has continued to reverberate through both legal and financial systems, prompting public scrutiny over how Epstein managed to amass and transfer his fortune.
In addition to seeking accountability for victims, these lawsuits are expected to illuminate the mechanisms through which Epstein accumulated and moved his vast wealth—an estate valued at approximately $630 million at the time of his death. The victims are represented by the prominent law firm Boies Schiller Flexner, working alongside attorneys Brad Edwards and Brittany Henderson, who have collectively advocated for more than one hundred of Epstein’s survivors. This legal team also filed earlier cases against other major institutions, including JPMorgan Chase and Deutsche Bank, in late 2022. Judge Rakoff, who presided over those previous matters as well, similarly placed them on an expedited schedule.
The prior lawsuits resulted in substantial settlements: JPMorgan agreed to resolve the claims for $290 million, while Deutsche Bank reached a settlement valued at $75 million. In the current cases, BNY is being represented by the high‑profile law firm WilmerHale, which includes attorneys who previously defended JPMorgan in the related litigation. Bank of America has retained Jones Day, another formidable and internationally recognized law firm, to manage its defense.
Concluding Monday’s hearing, Judge Rakoff offered a candid reflection on the proceedings, expressing his desire to see both cases progress to trial rather than being resolved through settlement negotiations. With characteristic humor but unmistakable candor, he remarked that he would be deeply disappointed should the parties choose to settle, noting that he would otherwise be deprived of witnessing what he anticipates would be two exceptional trials conducted by highly skilled attorneys. Although he added that some of his judicial colleagues might prefer settlement as the pragmatic course, Rakoff described himself as “selfish” in admitting his personal enthusiasm for observing these complex, high‑stakes trials unfold in open court.
Sourse: https://www.businessinsider.com/epstein-victim-lawsuits-bank-of-america-bny-mellon-fast-track-2025-10
