As New York opens up a one-year window for adult sex, two lawsuits have been filed accusing JP Morgan Chase andDeutsche Bank of aiding and abetting the sexual abuse of young women and girls.
The lawsuits, filed in New York federal court on behalf of two different women who accused Epstein of sexual abuse, claimed thatDeutsche Bank and JPMorgan Chase looked the other way in order to make more money.
According to the lawsuit, the bank kept Epstein on as a client after he registered as a lifetime sex offenders in 2008, despite the fact that the bank should have cut ties because he was too valuable.
The other lawsuit claimed that the bank aided and abetted the sex-trafficking operation of the man.
The lawsuit alleged that the bank earned millions of dollars from the sex-trafficking operation.
The lawsuits want class action status.
According to the Wall Street Journal, which first reported the lawsuits,Deutsche Bank will present its case in court and believes the claim doesn't merit.
The cases bring attention to the network surrounding the man. The death by suicide in a New York prison of a financiers who was awaiting trial on sex-trafficking charges renewed attention to such cases. Prince Andrew, former presidents Donald Trump and Bill Clinton, and financial and business elites were just some of the famous people in the network. The role of Wall Street institutions has come under scrutiny many times. After the U.K. regulators looked at his relationship with Epstein while he was working at JP Morgan, he stepped down from his position at the bank.
One of the more high profile cases linked to the abuse of the late financier is that of Ghislaine Maxwell. The man was sentenced to 20 years in prison after he was convicted of sex traffickers and grooming girls. She maintains her innocence after pleading not guilty and her legal team argued that she shouldn't be sentenced.
New York has an adult survivors act. Adult victims of sexual abuse can file lawsuits over sex crimes one year after the crime, waiving the normal deadlines and time limits. Hundreds of cases are predicted to come from it. This window has already been used to file a lawsuit against the former President.
The N.Y. law is expected to lead to a flood of sexual assault suits.