SANTA FE, N.M. — Deutsche Bank has announced a commitment of nearly $5 million in funding to support efforts to combat human trafficking in New Mexico. The bank’s pledge comes in collaboration with Attorney General Raúl Torrez.
This initiative follows Deutsche Bank’s settlement of a U.S. lawsuit eight months ago, in which they agreed to pay $75 million. The lawsuit claimed that the bank should have recognized evidence of sex trafficking involving Jeffrey Epstein, a former client.
Attorney General Torrez has been conducting investigations into various financial service companies in relation to their alleged failure to identify instances of sexual abuse and trafficking at Epstein’s ranch in Santa Fe County.
“We are pleased that Deutsche Bank acknowledges its ongoing responsibility to help us tackle this issue,” expressed Torrez. He further added, “We value the steps they have taken to strengthen their oversight capabilities since terminating Epstein as a client in 2018. We intend to utilize their pledge to support our ongoing efforts to apprehend traffickers and expand victim services.”
A spokesperson from Deutsche Bank affirmed their support for Torrez in this crucial endeavor. They emphasized the significance of collective responsibility within the industry to actively safeguard the financial system.
It is worth mentioning that a woman who claimed to have been abused by Epstein filed a lawsuit in New York seeking class-action status against the bank. She alleged that the bank knowingly benefitted from Epstein’s sex trafficking operation and prioritized profits over adhering to the law. The settlement was reached in May.
Deutsche Bank acknowledged their error in accepting Epstein as a client in 2020. Epstein, facing federal criminal charges for sexually abusing numerous underage girls, tragically took his own life in August 2019 while in prison.