Epstein estate reaches $105M settlement with US Virgin Islands, denies liability, fault
The islands, Great St. James and Little St. James, will both be sold with half the profits turned over to the territorial government.
The U.S. Virgin Islands has reached a settlement with the estate of late financier and sex offender Jeffrey Epstein.
The Epstein estate will pay more than $105 million in cash to the territorial government — the culmination of years pursuing the estate for damages related to his alleged operation of a sex abuse compound on his private islands, Great St. James and Little St. James.
Both islands are set to go up for sale as part of the agreement, with half of the sale price to be paid to the U.S. Virgin Islands.
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The government claims the money will be put into a fund for programs and assistance for Epstein's victims.
Epstein's estate maintains that the settlement does not concede fault or liability.
"The co-executors deny any allegations of wrongdoing on their part," Daniel Weiner, an Epstein estate attorney, told The Associated Press.
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He added, "The co-executors ultimately concluded that the settlement is in the best interest of the estate."
Epstein was found dead in his jail cell in 2019 while awaiting trial on a sex trafficking indictment.
Prosecutors alleged the wealthy hedge fund manager preyed on "dozens" of victims as young as 14 years old.
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Two separate lawsuits, filed late November in the U.S. District Court for the Southern District of New York, are headed by women who remain anonymous in the filings and are suing Deutsche Bank AG and JPMorgan Chase & Co.
The allegations include a claim the banks are at fault for "assisting, supporting, facilitating, and otherwise providing the most critical service for the Jeffrey Epstein sex trafficking organization to successfully rape, sexually assault, and coercively sex traffic."
The accusers claim the banks had knowledge of the pattern of sex trafficking from Epstein — an allegation denied by Deutsche Bank.
Fox News' Bradford Betz contributed to this report.