Bank of America has reached a $72.5 million settlement in a lawsuit that alleges the financial giant helped facilitate the sex trafficking operation of convicted sex offender Jeffrey Epstein, according to court documents filed Friday.

The lawsuit was filed last October in New York federal court on behalf of alleged victims of Epstein.

 It claims that “Bank of America knowingly and intentionally participated in, assisted, supported, and facilitated Jeffrey Epstein’s sex trafficking venture by providing Jeffrey Epstein and his associates with banking and investment services while Bank of America ignored red flags and failed, or was otherwise negligent, in its compliance and regulatory responsibilities.”

Bank of America made “no admission of liability” or “wrongdoing” as part of the settlement, the court documents read. The deal must still be approved by a judge.

“While we stand by our prior statements made in the filings in this case, including that Bank of America did not facilitate sex trafficking crimes, this resolution allows us to put this matter behind us and provides further closure for the plaintiffs,” a Bank of America spokesperson told CBS News in a statement late Friday. 

The lawsuit, brought on behalf of a woman identified in court papers only as Jane Doe and “all others similarly situated,” said the woman was living in Russia when she met Epstein in 2011 and was “coerced into a cult-like life.”

It said she was paid by Epstein through a Bank of America account as she was controlled “financially, emotionally, and psychologically” by Epstein from 2011 through 2019 as he sexually abused her on at least 100 occasions, including raping her and forcing her to engage sexually with other women for his sexual gratification.

The lawsuit alleged that Epstein paid her rent and income from a phony job through a Bank of America account, and held her immigration status “over her head, until her ultimate escape when Jeffrey Epstein died.”

The lawsuit also focused on billionaire financier Leon Black, co-founder of Apollo Global Management. Though not a defendant in the lawsuit, Black was described as a “critical witness” in the case by Sigrid McCawley, a lawyer for Epstein victims.

The lawsuit accused the bank of ignoring $170 million Black paid from a Bank of America account to Epstein purportedly for “tax and estate planning advice.”

During a hearing earlier this month, a lawyer for Black persuaded Judge Jed S. Rakoff to postpone Black’s deposition for 10 days on the grounds that the parties were close to settling.

Epstein died in a federal jail in August 2019 as he awaited trial on sex trafficking charges. His death was ruled a suicide. He was known for his connections with wealthy and powerful men, and the lawsuit said he used it to his advantage in his attacks on women.

Banks are required by law to report suspicious activity in customer accounts to federal authorities in order to flag potential criminal activity, such as money laundering or fraud. The lawsuit alleged that Bank of America failed to file suspicious activity reports, known as SARs, until after Epstein’s death in 2019.

The recent Justice Department release of millions of pages of documents from law enforcement probes of Epstein show he had regular contact with CEOs, journalists, scientists and prominent politicians long after his 2008 conviction in state court in Florida on sex crimes charges.