Settlement in Epstein Estate Case

The estate of Jeffrey Epstein has proposed a settlement of up to $35 million in response to a class action lawsuit. This lawsuit alleged that two of Epstein’s advisers were complicit in the sex trafficking of young women and teenage girls, as detailed in a court filing from Thursday.

The law firm Boies Schiller Flexner, representing Epstein’s victims, announced the settlement. The lawsuit was initiated in federal court in Manhattan.

If a judge approves the settlement, it will resolve a lawsuit filed in 2024 against Epstein’s former personal lawyer, Darren Indyke, and former accountant, Richard Kahn, who are co-executors of the estate.

Previously, Epstein’s estate had set up a compensation fund totaling $121 million for victims, along with an additional $49 million paid out in settlements.

According to the attorney Daniel H. Weiner, neither Indyke nor Kahn admitted to any misconduct as part of the settlement agreement. Weiner noted that while the co-executors were ready to contest the claims, they chose to mediate and settle to bring closure to potential claims against the estate.

The settlement aims to provide a “confidential avenue for financial relief” to Epstein victims whose claims against the foundation remain unresolved.

Epstein died in a New York prison in August 2019, a death officially ruled as a suicide.

In the 2024 lawsuit, the Boies Schiller Flexner team claimed that Indyke and Kahn assisted Epstein in creating a complicated network of companies and bank accounts. They argued that Epstein managed to conceal his abuses, compensate his victims, and pay those involved in recruiting, often providing them with “hefty compensation” for their roles.

Previously, the Boies firm accused JPMorgan Chase & Co. and Deutsche Bank of failing to recognize warning signs regarding Epstein’s activities, which led to a substantial $365 million settlement with one of the banks.