Washington, D.C. — Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today issued the following statement on reports that survivors of Jeffrey Epstein’s sex trafficking ring reached a settlement with Bank of America, which they accused of enabling Epstein’s crimes.
“Bank of America’s decision to settle with this group of Epstein survivors is a step towards justice and a vindication of my staff’s investigation into how major Wall Street banks enabled Epstein’s crimes. All along the way, attorneys representing the survivors used the findings of my investigation to prove that Bank of America willfully looked the other way as billionaire Leon Black paid Epstein more than $170 million. Bank of America’s employees repeatedly failed to conduct due diligence and report suspicious transactions to the U.S. Treasury Department, as required by law under the Bank Secrecy Act. Bank of America processed huge wire transfers from Black to Epstein, often in $10 or $20 million installments, without asking any questions, even though it was obvious that the money was being used for nefarious purposes. By failing to follow the law, Bank of America allowed for Epstein’s horrific abuse of women and girls to go undeterred.
“My investigation into how Bank of America and other Wall Street banks enabled Epstein continues, and I look forward to putting out more of our findings on the matter in the near future. I will also continue to point out how Attorney Pam Bondi and Treasury Secretary Scott Bessent have failed to hold Bank of America or other Wall Street banks accountable. While it’s a victory for survivors of Epstein’s crimes to be compensated for their suffering, the federal government must still act to hold his Wall Street enablers accountable.”
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