NY state penalizes Deutsche Bank $150M for Epstein dealings
NEW YORK (AP) – New York state says Deutsche Bank has agreed to pay $150 million to settle claims that it broke compliance rules in its dealings with the late sex offender Jeffrey Epstein.
The penalty was announced in a release Tuesday by Superintendent of Financial Services Linda A. Lacewell.
The release said the agreement marked the first enforcement action by a regulator against a financial institution for dealings with the financier.
Epstein killed himself last August in a Manhattan federal jail while awaiting trial on sex trafficking charges.
In a statement, the German bank said the settlement reflected its cooperation. It said it has significantly boosted its anti-financial crime capabilities.