Value Of Epstein Estate Has Dropped From $450 Million to $240 Million Since September
In the last five months, the estate of the late Jeffrey Epstein has paid nearly $ 50 million to victims of accused pedophiles. Additionally, as stated in the title of this article, the value of his property has fallen from $ 450 million to $ 240 million since September. More than 100 women have come forward to claim that they were victimized by Epstein and applied for compensation from a fund set up in the US Virgin Islands in 2020.
In June 2020, the compensation fund was set up in the Virgin Islands court after Epstein’s estate was affected by several lawsuits from his victims. Women who were sexually abused or trafficked by Epstein can apply for a cut in their assets. His assets will be completely liquid if necessary.
It should be noted that the compensation program is a way for Epstein’s victims to get compensation for crimes committed to go public without their charges. Said that, women should sign their rights to file a lawsuit against Epstein’s estate to receive compensation. By the end of 2020, Epstein’s assets paid $ 49.8 million through an indemnity fund. It is not known how many victims have received funding from the Epstein Estate. Legal filings showed Epstein’s assets were $ 241 million at the end of 2020, compared to $ 446 million five months earlier at the end of September.
The current total value of Epstein’s assets is $ 241 million with $ 49 million. He has paid approximately $ 50 million through the victim’s compensation fund. The property pays millions of dollars in legal expenses every three months. He paid taxes of $ 162,000 to France for a luxury property he owned in Paris. He paid $ 2.65 million for tax in the US Virgin Islands where Epstein owned the islands of Little St. James and Great St. James.
His assets include his art collection, valued at $ 339,000, proceeds from the sale of his Gulfstream G550 jet for $ 10.5 million, and his stake in the American Yacht Harbor Marina in the Virgin Islands, valued at $ 5.4 million.
It is not known what will happen to Epstein’s Boeing 747 which has been dubbed the “Lolita Express”. The aircraft was last released at an airport in Georgia, where a maintenance company claims their storage fee is $ 11,000.
The Virgin Islands government filed a lawsuit last year against Epstein, alleging that he was taking small girls to the islands and transporting them to their property via boat or helicopter. The lawsuit claims that Epstein purchased the islands from the authorities to hide his illegal activities. Epstein was a registered sex offender but with his islands, he was able to block law enforcement from getting beyond his island’s dock. He reportedly met with law enforcement officers at his office on another island.
The lawsuit alleged that Epstein took the girls to the island with the promise of modeling jobs. Some of the victims were just 13 years old. The lawsuit also describes an incident, where Epstein organized a search party to catch a 15-year-old girl who was trying to swim away from the island and Epstein’s sexual advances.
In 2008, Epstein pleaded guilty to prostitution charges in Florida. She was first publicly accused of forcing underage girls against her will in 2005. Subsequently, an Australian woman claimed that she had been sexually abused by Epstein’s adult male peers, including royalty, when she was just 17 years old. The royalty he was referring to was Prince Andrew, Prince Charles’s brother.
Epstein allegedly accused her of over a decade of serial sexual abuse and rape of girls. In the end, he was convicted of abusing more than 80 women. And then former Labor Secretary Alexander Acosta helped Epstein escape the consequences for his crimes. At the time, Acosta was the US attorney handling the case.
They negotiated a plea agreement that covered the extent of Epstein’s crimes and the sheer number of people involved. The settlement also accuses Epstein of soliciting a minor. He was sentenced to 18 months in Palm Beach Jail. During that time, he was allowed to leave six days a week to “release work”. He served a sentence of 13 months.
In 2019, he was accused of sexual exploitation and trafficking of young girls by federal prosecutors in Manhattan. Epstein faced 45 years in prison if found guilty. He committed suicide in his jail room in August 2019. Two days before he committed suicide, he wrote a new will and placed $ 578 million in assets in a trust. At the time, it was thought that the act could complicate the efforts of women he had sexually abused as teenagers to take damages. The new one has earned total assets of $ 577 million.
His listed assets were valued at $ 56 million in cash, $ 113 million in equity, $ 14 million in bonds, a $ 195 million investment with hedge funds, and a combined $ 178 million in six assets. When he had completed everything, Jeffrey Epstein estimated his total assets to be $ 577,672,654. Epstein – died on August 10 in a federal prison cell in New York City.
A copy of the will was filed with the court in the US Virgin Islands on August 15. Epstein’s real estate – from his Manhattan mansion to his New Mexico farm, he owns the Caribbean for his Palm Beach property in private Paris apartments, owned by various entities that are defined in the will.
At the current rate, the Victims Compensation Fund is legally paying the victims over one million every 90 days as well as the numerous lawsuits filed against Epstein, with their assets fully liquidated in the near future.