President Donald Trump, amidst a flurry of other national news, has not commented on the recent development involving the estate of the late financier Jeffrey Epstein, which has agreed to a substantial settlement in a class action lawsuit. In a federal court filing made public in Manhattan, written by representatives from the law firm Boies Schiller Flexner, it was revealed that up to $35 million would be paid to settle claims against two of Epstein's former advisers. This lawsuit had been filed in 2024, and the advisers in question, Darren Indyke and Richard Kahn, served as co-executors of Epstein's 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," - Daniel H. Weiner, attorney for co-executors Indyke and Kahn.
The settlement outlined does not include an admission of guilt from either Indyke or Kahn and is contingent upon judicial approval before it can be finalized. Daniel H. Weiner, the attorney for the co-executors, articulated in an emailed statement on Thursday their position. He stated, "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 further noted that the settlement would offer a "confidential avenue for financial relief" for those victims who had not already settled claims against the estate.
Prior to this agreement, Epstein's estate had established a restitution fund, distributing $121 million to victims, and had settled an additional $49 million in separate agreements. The 2024 lawsuit brought by Boies Schiller Flexner accused Indyke and Kahn of assisting Epstein in creating an elaborate financial network intended to obscure his criminal activity, including sex trafficking. The advisers were alleged to have facilitated the flow of funds to both victims and recruiters while being "richly compensated" for their involvement.
Epstein's death in August 2019, ruled a suicide by the New York City medical examiner, occurred in a New York City jail cell as he awaited trial on federal sex trafficking charges. The estate's legal entanglements further extended to settlements from two major financial institutions, JPMorgan Chase and Deutsche Bank, totaling $365 million, after allegations that the banks neglected warning signs about Epstein's activities.
In related news, British authorities arrested Andrew Mountbatten-Windsor, younger brother to King Charles III, on suspicion of misconduct in public office, related to allegations associated with Epstein. While Andrew acknowledged a friendship with Epstein and settled a lawsuit with one of Epstein's underage victims, he has denied any wrongdoing in his government role. The royal family, through a statement from King Charles III, has expressed concern and pledged cooperation with legal authorities.
This unfolding saga continues to have far-reaching implications and the latest settlement is seen as a significant step towards resolution for many of Epstein's victims, although it still requires the formal approval of a judge.
