FirstBank class action lawsuit overview:
- Who: A plaintiff identified as Jane Doe filed a proposed class action lawsuit against FirstBank Puerto Rico and First BanCorp.
- Why: Doe claims the bank knowingly benefited from and helped facilitate Jeffrey Epstein’s sex trafficking operation by maintaining banking relationships and failing to report suspicious activity.
- Where: The FirstBank class action lawsuit was filed in New York federal court.
- How to get help: If you or a loved one suffered sex trafficking or abuse at the hands of Epstein or his network, you may be eligible to pursue legal action.
A new class action lawsuit accuses FirstBank Puerto Rico and its parent company, First BanCorp, of helping facilitate Jeffrey Epstein’s sex trafficking operation by providing banking services to Epstein and his associates for more than two decades.
Plaintiff Jane Doe alleges FirstBank maintained a banking relationship with Epstein from 1998 through 2020, continuing to provide financial services despite widespread public knowledge of his alleged sex trafficking activities and his criminal prosecutions.
According to the complaint, FirstBank opened or maintained more than 30 accounts for Epstein, his affiliated entities and individuals associated with his organization.
The class action lawsuit alleges the bank knowingly benefited from the relationship while failing to file suspicious activity reports that could have alerted law enforcement to Epstein’s conduct sooner.
“As a result of FirstBank’s close multi-decade relationship with Epstein, FirstBank acquired a plethora of information regarding Epstein’s sex trafficking operation, information that could have put Epstein in prison years earlier if FirstBank had simply properly reported what it knew to authorities,” the class action lawsuit states.
In a statement after the lawsuit was filed, Doe’s counsel alleged FirstBank served as Epstein’s “longest banking partner,” Law360 reports.
FirstBank had not publicly responded to the allegations at the time the lawsuit was filed.
Lawsuit claims FirstBank continued relationship after Epstein’s arrests
The class action lawsuit alleges FirstBank continued providing banking services to Epstein even after his criminal cases became public and after his second arrest.
According to the lawsuit, government investigations have identified more than $1 billion in transactions involving Epstein and his associates between 2003 and 2019.
The complaint alleges those transactions included thousands of wire transfers processed through financial institutions and claims FirstBank had access to information that should have prompted it to report suspicious activity.
Doe argues the bank chose to continue its relationship with Epstein because it financially benefited from maintaining his accounts.
The class action lawsuit also alleges FirstBank processed transactions through correspondent banking relationships in New York and maintained communications with several of Epstein’s longtime associates while continuing to provide banking services.
Doe seeks to represent a class of women who were allegedly sexually abused or trafficked by Jeffrey Epstein or his co-conspirators during the period FirstBank allegedly provided banking services to Epstein and related entities. She asserts claims under the federal Trafficking Victims Protection Act and New York City law.
The complaint seeks compensatory and punitive damages, attorneys’ fees, equitable and injunctive relief, costs and other relief the court deems appropriate.
Earlier this year, Bank of America agreed to a $72.5 million settlement to end claims it helped facilitate Epstein’s sex trafficking crimes.
What do you think about the allegations made against FirstBank? Let us know in the comments.
The plaintiff is represented by David Boies and Sigrid McCawley of Boies Schiller Flexner LLP and Bradley J. Edwards and Brittany N. Henderson of Edwards Henderson.
The FirstBank class action lawsuit is Doe v. FirstBank Puerto Rico, et al., Case No. 1:26-cv-05327, in the U.S. District Court for the Southern District of New York.
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