The estate of Jeffrey Epstein, alongside two co-defendants and 10 associated entities, has agreed to a $105 million settlement with the US Virgin Islands, the islands’ attorney general announced Dec 1.
Under the terms of the settlement, $105 million and half the proceeds from the sale of private island Little St. James will be disbursed to the US Virgin Islands’ (USVI) government, the territory’s attorney general’s office said in a press release. Many of Epstein’s alleged crimes were committed on the island, the attorney general specified, and as part of the settlement his estate will pay $450,000 for environmental damages to the island.
News—
U.S. Virgin Islands DOJ unveils deal with Epstein estate.
“Jeffrey Epstein’s Notorious Island Will Be Sold While Ensuring It Won’t Be Used for ‘Illicit Purposes,’ $105M Virgin Islands Settlement Reveals” @LawCrimeNews https://t.co/vpcKKWpsfX
— Adam Klasfeld (@KlasfeldReports) November 30, 2022
Epstein’s estate will also sell the island of Greater St. James under the settlement terms. It ensures that Epstein’s associates will no longer use the islands for alleged illicit purposes, the press release said. Funds from the sale of Little St. James will be put towards a USVI trust to support victims of sexual abuse, the press release detailed.
The Epstein estate will also return over $80 million in tax benefits fraudulently obtained by Epstein and his co-defendants, which funded his alleged criminal enterprise. A company run by Epstein allegedly made fraudulent misrepresentations to USVI authorities about its qualifications for economic development tax benefits, the press release outlined. (RELATED: Epstein Accusers Sue Deutsche Bank, JP Morgan Chase)
The co-defendants in the case allegedly conspired with Epstein to carry out a criminal enterprise “through which dozens of young women and children were trafficked, raped, sexually assaulted, and held captive in the Virgin Islands at Epstein’s secluded private island, Little St. James, according to the press release. Participants in the Epstein Enterprise used deception, fraud, and coercion to entice and lure vulnerable girls and young women into human sex trafficking,” according to the USVI press release.
US Virgin Islands’ Attorney General Denise George stated in the release that “this settlement restores the faith of the People of the Virgin Islands that its laws will be enforced, without fear or favor, against those who break them. We are sending a clear message that the Virgin Islands will not serve as a haven for human trafficking.”
The attorney general brought civil enforcement claims against the Epstein estate through its Criminally Influenced and Corrupt Organizations Act (CICO), the USVI’s version of Racketeering Influenced and Corrupt Organizations Act (RICO) for alleged criminal organizations, the press release stated. It is believed to be the largest monetary settlement in the history of the territory, the press release touted.
