NEW YORK—Deutsche Bank AG admitted it made a “critical mistake” taking on the registered sex offender Jeffrey Epstein as a client, and agreed to pay a $150 million fine to settle New York charges over its dealings with the late financier and two other banks.
Tuesday’s settlement with the New York State Department of Financial Services (pdf) is the first regulatory enforcement action against a bank related to Epstein, who committed suicide last August in a Manhattan jail, a month after his arrest for allegedly sexually exploiting dozens of girls and women.
