Judge Rules Leon Black May Be Deposed in Epstein Lawsuit Against Bank of America

• The lawsuit alleges Bank of America facilitated sexual abuse by Jeffrey Epstein, with victims now seeking to depose Leon Black as part of the case
• Manhattan-based U.S. District Judge Jed Rakoff set a hearing for 3 p.m. EDT to discuss the deposition details
• Leon Black is a billionaire and co-founder of Apollo Global Management, though the court filing did not specify his connection to the allegations

Summary:

U.S. District Judge Jed Rakoff has ruled that billionaire Leon Black, co-founder of Apollo Global Management, may be deposed in a civil lawsuit against Bank of America. The lawsuit was brought by women who allege the bank facilitated their sexual abuse by Jeffrey Epstein.

Key Details:

• A court hearing was scheduled for Wednesday, March 11, at 3 p.m. EDT (1900 GMT) in Manhattan federal court concerning Black's upcoming deposition
• The court filing provided limited additional details about the scope or specific allegations involving Black
• The lawsuit targets Bank of America, with plaintiffs claiming the financial institution enabled Epstein's abuse activities

Companies Involved:

• Bank of America (defendant)
• Apollo Global Management (Black's company, though not a defendant)

Market Implications:

This development could present reputational risks for both Bank of America and Apollo Global Management, particularly given the high-profile nature of the Epstein case and Leon Black's prominence in the financial sector. Black previously stepped down from Apollo in 2021 following scrutiny over his financial ties to Epstein, reportedly paying him $158 million for tax and estate planning services.

The deposition could reveal new information about the business relationships between major financial institutions and Epstein, potentially exposing the banks to additional legal and regulatory scrutiny. Investors in both Bank of America and Apollo Global Management should monitor developments in this case for potential impact on corporate governance and legal liabilities.