Jeffrey Epstein‘s estate has paid out nearly $50million to victims of the disgraced pedophile financier, according to a new filing.
More than 100 accusers have applied for compensation from a fund set up last year in the US Virgin Islands where Epstein owned two private islands and where some of his sexual abuse and trafficking allegedly took place.
The document also reveals that tens of millions of dollars of Epstein’s money are being spent on lawyers, with a number of Epstein-related proceedings still ongoing.
Meanwhile a private jet belonging to Epstein was sold for $10.5million late last year, while the sex offender’s art collection was valued at nearly $339,000, according to the quarterly filing seen by the Miami Herald.
Victims of Jeffrey Epstein, pictured, have received nearly $50million in compensation from a fund based in the US Virgin Islands
WHAT THE NEW EPSTEIN FILING REVEALS
Total value of Epstein’s estate assets: $241million, including $49million cash
Compensation paid to Epstein victims: $49.8million
Legal costs: Tens of millions of dollars every three months
Money distributed by entities owned by Epstein: $18.8million
Tax payments: $162,000 in France, $2,65million in US Virgin Islands
Art collection: Valued at $339,000
Proceeds from sale of Gulfstream G550 jet: $10.5million
Southern Trust data mining firm: Worth $61million
Stake in American Yacht Harbor marina in US Virgin Islands: Worth $5.4million
The compensation fund was approved by a Virgin Islands judge last June after Epstein’s estate was hit by a barrage of lawsuits from his victims.
Survivors of Epstein’s abuse can apply for a cut of his multi-million dollar estate, with the fund’s administrator promising to liquidate his assets if needed.
Fund managers advertised the program as a way for victims to get compensation without having to air their allegations in public.
However, women who claim compensation via the fund must agree to waive their rights to file lawsuits against Epstein’s estate.
Up to the end of 2020, the estate paid out around $49.8million to an unspecified number of victims, according to the new filing.
The report also showed that at least 20 women who had filed lawsuits have had their cases dismissed.
According to the filing, the total assets belonging to Epstein’s estate were worth only $241million at the end of 2020 compared to $446million at the end of September.
While there was $11million of new income, millions of dollars more were spent on legal fees in the last three months.
The sale of the Gulfstream G550 jet brought in $10.5million – while the fate of Epstein’s notorious ‘Lolita Express’ Boeing 727 jet is not yet clear.
The plan was seen last September lying abandoned at a Georgia airport, with a maintenance firm owner saying he was owed $11,000 in storage fees.
The new filing suggests Epstein’s estate may face a lawsuit from a firm called Aviation Development Group, apparently based in Georgia, but it was not clear what the claim would relate to.
Epstein’s estate paid millions in tax to the US Virgin Islands, where the disgraced financier owned two private islands including Little St James (pictured)
Also disclosed in the new document was a $162,000 tax payment to French authorities relating to a luxury property that Epstein owned in Paris.
The estate also paid millions in tax to the US Virgin Islands, where Epstein benefited from low taxes after buying the islands of Little St James and Great St James.
A lawsuit filed by the Virgin Islands government last year said Epstein had flown girls to the Caribbean and then had them moved to his property by boat or helicopter.
Epstein bought Little St James in the 1990s and later purchased the neighbouring island to protect his illegal activity from being seen, the lawsuit claims.
Although he was required to register as a sex offender following his Florida conviction in 2008, he managed to avoid US Marshals or Virgin Islands officials from getting beyond the dock which he regarded as his front door.
Instead, he met the law enforcement officials at his office on another island, the lawsuit says.
Many underage girls were lured with the promise of modelling opportunities, the lawsuit said, with some victims as young as 13 years old
Epstein accusers Annie Farmer (left) and Courtney Wild (right) outside federal court in 2019. Victims can apply to a fund based in the Virgin Islands for compensation, but must waive their rights to file lawsuits. It is not publicly known which victims have received payouts
The lawsuit described one incident where Epstein and others organised a search party to track down a 15-year-old victim trying to swim away.
‘The complaint speaks for itself and lays out allegations of a pattern and practice of human trafficking, sexual abuse and forced labour,’ the islands’ attorney general said.
Epstein pleaded guilty in 2008 to state prostitution charges in Florida under a plea deal which is now widely regarded as too lenient.
He served 13 months in prison, and the conviction ended his relationships with rich and powerful elites including Bill Clinton and Prince Andrew.
In 2019 he was charged by federal prosecutors in Manhattan with sexual abuse and trafficking of underage girls.
Facing 45 years in prison if convicted, he took his own life in a Manhattan jail cell in August 2019.
His ex-girlfriend Ghislaine Maxwell was dramatically arrested last year and faces federal charges of assisting Epstein in procuring underage girls.
The British socialite, who denies the charges, is in custody ahead of an expected July 2021 trial.
This post was first published on DailyMail.