Epstein estate to make $35M settlement in class action lawsuit
What's the story
The estate of disgraced financier Jeffrey Epstein has agreed to pay up to $35 million to settle a class action lawsuit. The lawsuit accused two of Epstein's former advisers, Darren Indyke and Richard Kahn, of aiding his sex trafficking activities. The settlement was announced by the law firm Boies Schiller Flexner in a court filing in federal court in Manhattan, New York City, United States of America, on Thursday.
Legal resolution
Indyke, Kahn didn't admit any misconduct
The settlement, pending judicial approval, will end a 2024 lawsuit against Indyke and Kahn. The two are co-executors of Epstein's estate. Their lawyer, Daniel H Weiner, said neither Indyke nor Kahn "made any admission or concession of misconduct" as part of the settlement. He added that they were ready to fight the claims but chose to settle for finality on potential claims against Epstein's estate.
Victim compensation
Settlement will provide financial relief to victims
The settlement is intended to provide "a confidential avenue for financial relief" to Epstein victims who haven't settled claims against the estate. Epstein's estate had earlier established a restitution fund, which paid out $121 million to victims and an additional $49 million in settlements. The Boies law firm had also secured $365 million in settlements with JPMorgan Chase and Deutsche Bank over their handling of Epstein's accounts.