Covington, Ky., Jun 5, 2005 / 22:00 pm
The Diocese of Covington has agreed to the largest settlement yet for alleged victims of clergy sexual abuse.
The diocese announced Friday that it will create a $120-million fund to compensate alleged victims. The diocese said $40 million would come from church real estate and investments, and $80 million would come from insurance, reported the Associated Press.
The settlement still needs approval by a state judge. The diocese was expected to go to trial earlier this year, but it was postponed due to the settlement talks. More than 100 alleged victims had filed a class-action lawsuit and accused the diocese of a 50-year abuse cover-up.
In a statement, the diocese indicated that the fund "encompasses all persons, known and unknown, who were abused during the 50-year class period." According to AP, lawyers have said that number could be in the hundreds, and it could be months before an exact number is known.