On March 12, 2026, U.S. District Judge Jed Rakoff ordered Leon Black, former CEO of Apollo Global Management and an associate of Jeffrey Epstein, to be deposed in a lawsuit brought by women alleging that Bank of America facilitated and profited from Epstein’s sex-trafficking enterprise [1]. Black, who is not a defendant in the suit, will give sworn testimony later this month, with the deposition expected to last up to 8 hours—5 hours for the victims' legal team and 3 hours for Bank of America lawyers [1]. Sigrid McCawley, an attorney for the victims, described Black as a "critical witness" in the case [1].
The lawsuit claims Bank of America turned a blind eye to suspicious transactions made by Black to Epstein from his Bank of America account, including $170 million for "tax and estate planning advice," which plaintiffs allege was used to fund Epstein’s sex-trafficking enterprise [1]. A prior settlement agreement between Black and the U.S. Virgin Islands stated that "Epstein used the money Black paid him to partially fund his operations in the Virgin Islands" [1]. The deposition was initially scheduled for Monday but was postponed at the request of Black’s attorney, Michael Carlinsky, who indicated that the parties are "very close to resolving this dispute" [1].
The victims' legal team and Bank of America lawyers did not disclose any details regarding a possible settlement during the conference call, and both Bank of America and Black declined to comment [1]. The lawsuit, filed in 2025, alleges Bank of America provided banking services to Epstein, his co-conspirators, associates, and victims, including Ghislaine Maxwell, and failed to properly monitor accounts or file timely suspicious activity reports concerning questionable transactions [1]. Bank of America has previously argued in court filings that the lawsuit seeks to hold it civilly liable for Epstein’s crimes based only on allegations that it provided routine services to customers who at the time had no known connection to Epstein’s sex trafficking [1].
Epstein victims have brought similar lawsuits against JPMorgan Chase and Deutsche Bank, which were later [1].
CONCLUSION
Leon Black's deposition in the lawsuit against Bank of America marks a significant development in ongoing litigation related to Jeffrey Epstein's sex-trafficking enterprise. The case centers on allegations of Bank of America's failure to monitor suspicious transactions and its potential civil liability. While a settlement may be near, no details have been disclosed, and both Bank of America and Black have declined to comment, leaving the market awaiting further clarity.