Billionaire purchases Epstein Islands and shares plans for the future.

Billionaire Buys Epstein’s Islands

A billionaire investor, Stephen Deckoff, has purchased the islands owned by sex offender and accused sex trafficker Jeffrey Epstein. The purchase of Great St. James and Little St. James was made through Deckoff’s firm SD Investments LLC, with plans to develop a five-star luxury resort on the islands. The project will help draw tourists to the islands and create jobs, according to SD Investments. Deckoff paid $60 million, less than half of the original asking price of $125 million.

Creating a World-Class Destination

Deckoff, a resident of the U.S. Virgin Islands since 2011, said in a statement, “There is simply no place in the world as special as the U.S. Virgin Islands, and I am humbled by the opportunity to share its splendor with visitors in a manner that will provide economic benefits to the region while respecting its culture, history, and natural beauty.” He is working to hire architects and engineers, with the resort projected to open in 2025.

Epstein’s Crimes

Epstein bought one of the islands in 1998 and the other in 2016. He died in jail in New York City in 2019 while awaiting trial on sex trafficking charges. U.S. Virgin Islands officials have said that young girls were raped on the islands. Epstein and people working with him “trafficked, raped, sexually assaulted and held captive underage girls and young women” on the islands, according to a lawsuit filed in 2020. The alleged crimes took place from 2001 to 2018.

Settlement and Sale Proceeds

Epstein’s estate agreed to settle the case with a payment of $105 million. Per the settlement, a “significant portion” of the proceeds of the sale of the islands will be paid to the U.S. Virgin Islands government, SD Investments LLC said. The government is due to half the proceeds under the settlement.

Deckoff’s Connection to Epstein

Deckoff “never met Mr. Epstein,” a spokesperson told The Epoch Times via email. Deckoff also had never been to either of the islands before they were placed on sale following Epstein’s death. Deckoff is not listed in Epstein’s infamous black book or mentioned in recent reporting by the Wall Street Journal.

A Billionaire’s Net Worth

Deckoff has a net worth of $3 billion, according to Forbes. The billionaire, who founded Black Diamond Capital, lived in New York City before moving to the U.S. Virgin Islands.