A federal judge in New York has granted preliminary approval to a proposed $35 million settlement between the estate of Jeffrey Epstein and a group of accusers who alleged that two of his longtime advisers enabled his sex trafficking scheme.
U.S. District Judge Arun Subramanian said Tuesday that the agreement appeared fair and scheduled a final approval hearing for 16 September in Manhattan federal court.
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The settlement, announced on 19 February by law firm Boies Schiller Flexner, would resolve a 2024 class action lawsuit brought against Epstein’s former personal lawyer, Darren Indyke, and his former accountant, Richard Kahn. The two men served as co-executors of Epstein’s estate.
Allegations against advisers
In the lawsuit, attorneys alleged that Indyke and Kahn aided and abetted Epstein’s trafficking of young women and teenage girls by helping him establish a complex network of corporations and bank accounts. The suit claimed this structure enabled Epstein to conceal his conduct and funnel payments to victims and recruiters.
The complaint further alleged that the two advisers were “richly compensated” for their work.
Daniel Weiner, a lawyer representing Indyke and Kahn, said neither man admitted wrongdoing as part of the settlement. He said they were prepared to contest the claims at trial but chose to settle in order to achieve finality for the estate.
“Because they did nothing wrong, the co-executors were prepared to fight the claims against them through to trial, but agreed to mediate and settle this lawsuit in order to achieve finality as to any potential claims against the Epstein Estate,” Weiner said in a statement.
Sigrid McCawley, an attorney for the plaintiffs, said the agreement marked another step toward accountability for survivors.
“We are pleased we could take another step forward on that long road for the survivors and provide some sort of justice,” she said.
Prior payouts and ongoing scrutiny
Epstein’s estate has already paid substantial sums to resolve claims. A restitution fund established by the estate distributed $121 million to victims, and an additional $49 million was paid through separate settlements.
Epstein died in a New York jail in August 2019 while awaiting trial on federal sex trafficking charges. His death was ruled a suicide.
This year, millions of documents released by the Justice Department have shed further light on Epstein’s social connections with wealthy and powerful figures around the world.
Boies Schiller Flexner previously secured $365 million in settlements from JPMorgan Chase and Deutsche Bank after accusing the banks of overlooking warning signs while Epstein was a client.
If granted final approval in September, the proposed settlement would bring to a close one of the remaining civil cases tied to the disgraced financier’s estate.
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