Leon Black to Be Deposed in Epstein-Related Suit Against BofA

Leon Black is scheduled to give sworn testimony in a proposed class-action lawsuit by Jeffrey Epstein victims accusing Bank of America Corp. of aiding in the deceased financier’s sex-trafficking.

The Apollo Global Management co-founder’s upcoming deposition was discussed in a Wednesday conference call US District Judge Jed Rakoff held with the lawyers for the parties and for Black. Originally scheduled for Monday, the deposition was moved to March 26 at the request of Black’s lawyer.

Black is not a defendant in the suit and has not been charged with any crimes. He has denied any wrongdoing. Whit Clay, a spokesman for Black, declined comment on Wednesday.

Unlike earlier victims’ cases against JPMorgan Chase & Co. and Deutsche Bank AG, which highlighted Epstein’s direct client relationship, the suit against Bank of America focuses more on accounts at the bank allegedly used by “his co-conspirators, associates and victims,” including Ghislaine Maxwell. According to the suit, Black transferred $170 million to Epstein from Bank of America accounts.

“He is a critical witness in this case,” Sigrid McCawley, a lawyer for the victims said of Black during the call. In the suit, victims claim Black’s transfers were “the primary means by which the sex-trafficking venture was funded and for which there was no apparent business or lawful purpose.”

Michael Carlinsky, a lawyer for Black, said on the call that he requested a delay because he believes the parties are close to settling the case and Black’s deposition may be unnecessary. McCawley and a Bank of America lawyer declined to confirm the possibility or timing of any settlement on the call.

“If the parties want to settle, they can always find time to settle,” Rakoff said. “That is not a reason to postpone anything.”

But the judge granted the delay after Carlinsky promised not to request further postponement. Rakoff said the deposition, which will not be public, will comprise five hours of questioning by the victims’ lawyers and three by lawyers for Bank of America. He said the lawyers could decide to spread the deposition over two days.

In June 2023, JPMorgan agreed to pay $290 million to settle Epstein-related suits. Deutsche Bank reached a $75 million pact earlier that year.

Rakoff is holding another hearing Thursday on whether the case can proceed as a class action potentially representing hundreds of victims.

The case is Doe v. Bank of America NA, 25-cv-8520, US District Court, Southern District of New York.

To contact the reporter on this story:
Bob Van Voris in federal court in Manhattan at rvanvoris@bloomberg.net

To contact the editors responsible for this story:
Anthony Lin at alin364@bloomberg.net

David Scheer

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