Jeffrey Epstein’s US Virgin Island properties may be sold to pay compensation for victims
Due to 'uncertainty about the liquidity' of Epstein's estate, the compensation fund abruptly said last week it would suspend offers for payments until 25 March which is the last day to file claims
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Your support makes all the difference.Representatives of Jeffrey Epstein's estate may attempt to sell his US Virgin Island properties to fund compensation for his victims, a report says.
According to CNN, an attorney for the estate told the broadcaster that the estate may be looking to sell off the islands after the victim payouts were paused last week.
Epstein maintained a home on Little St James, which he acquired in 1998, and purchased nearby Great St James in 2016, a lawsuit filed last year shows.
The attorney, Dan Weiner, told the broadcaster that co-executors of the estate had seen "expressions of interest from numerous parties regarding the two USVI properties, and two to three bona fide offers to purchase them."
The news comes after the compensation fund for victims of the accused sex trafficker and convicted sex offender will stop making new offers because no one will buy his former properties.
Due to "uncertainty about the liquidity" of Epstein's estate, the compensation fund abruptly said last week it would suspend offers for payments until 25 March which is the last day to file claims.
Mr Weiner told The Daily Beast that the co-executors of Epstein's estate have struggled to sell his properties and vehicles and that buyer reluctance, the pandemic, and ongoing civil suits have limited the liquid assets available to the compensation fund.
“Because the great bulk of the Estate’s assets are illiquid—including residential properties, private investments and aircraft—the Co-Executors have been attempting for months to sell those illiquid assets in order to fund the Program and cover the Estate’s expenses, all of which are submitted to the US Virgin Islands Superior Court for itemized review,” he said.
If it is determined that the estate has enough money to pay victims in full, then claims may reopen.
US Virgin Islands Attorney General Denise N George said: "The Estate has found its way to pay for lawyers, landscaping, and helicopter fees, but not the brave women who have stepped forward to participate in the compensation fund."
She added: "It is, unconscionably, another promise made and broken by Epstein and now, his Estate."
Epstein killed himself while in Metropolitan Correctional Centre in New York City last year while awaiting trial on charges of sex-trafficking.
Until recently, the compensation fund for Epstein's victims had paid out nearly $50m to survivors.
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