Deutsche Bank has agreed to pay $75 million to settle a proposed class-action lawsuit alleging the German bank facilitated the late Jeffrey Epstein's sex-trafficking ring, according attorneys for the plaintiffs.

The suit was filed last year in New York by a woman listed in court filings as Jane Doe 1 on behalf of herself and other accusers, alleging Deutsche Bank did business with Epstein for five years despite knowing he was engaged in sex-trafficking.

Deutsche Bank did not admit wrongdoing as part of the settlement, a person familiar with the matter told DailyMail.com late on Wednesday. 

The plaintiffs' lawyers, from the law firms Boies Schiller Flexner and Edwards Pottinger, said they believed the $75 million settlement was the largest sex-trafficking settlement involving a banking institution.

'This groundbreaking settlement is the culmination of two law firms conducting more than a decade-long investigation to hold one of Epstein's financial banking partners responsible for the role it played in facilitating his trafficking organization,' the law firms said in a joint statement to the Wall Street Journal, which first reported the settlement.