Jeffrey Epstein’s private islands purchased for $60million
Jeffrey Epstein’s private islands in the Caribbean were sold to an investor for $60million.
Stephen Deckoff, an entrepreneur and the principal investor Black Diamond Capital Management, purchased Great St James and Little St James in the US Virgin Islands for less than half the asking price from the disgraced financier’s estate.
The two islands are situated just off the coast of St Thomas, and only boat ride away from the territory’s capital of Charlotte Amalie.
Epstein purchased the Little St James in 1998 for $7.95million. He then built a large residence on the 70-acre island
According to prosecutors, Epstein used the complex on the island to traffic underage girls and entertain wealthy and powerful guests.
Multiple women have said they were raped on the island, including Virginia Giuffre, the alleged victim of Prince Andrew.
Giuffre accused the disgraced royal of sexually assaulting her multiple times, including during an orgy on Little St James.
He purchased the nearby larger island of Great St James in 2016 for $22.5million. Prior to the purchase, Great St James was home to a popular nature preserve known as Christmas Cove.
The islands were put up for sale by Epstein’s estate in March of 2022 for $125million.
‘Mr Deckoff plans to develop a state-of-the-art, five-star, world-class luxury 25-room resort that will help bolster tourism, create jobs, and spur economic development in the region, while respecting and preserving the important environment of the islands,’ the firm said in a press release.
The investor is currently in the process of hiring architects and engineers to design the resort, which is currently slated to open in 2025.
‘I’ve been proud to call the U.S. Virgin Islands home for more than a decade and am tremendously pleased to be able to bring the area a world-class destination befitting its natural grace and beauty,’ Deckoff said.
The firm said that a ‘significant portion of the sale proceeds’ would be paid directly to the government of the US Virgin Islands.
This payout was negotiated when Epstein’s estate settled a civil case brought by the Virgin Islands for child exploitation and sex trafficking. The estate agreed to pay the territory $105million, as well as half the proceeds from the sale of the two islands.
On top of that, the estate also paid the Virgin Islands $450,000 for damage to Great St James, where Epstein reportedly destroyed historical buildings that once served as residences for slaves.
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