Billionaire Buys Islands Once Owned by Epstein, Will Turn Them Into a Resort
The 2 islands were dubbed by locals as "Pedophile Island," after it came to light that Epstein had used them as a location to sexually abuse young women and girls for years.
A billionaire investor has purchased Jeffrey Epstein’s pair of neighboring private islands that played a central role in the disgraced financier’s sex trafficking operations.
Stephen Deckoff, a billionaire and founder of the private equity firm Black Diamond Capital Management, purchased Great St. James and Little St. James in the U.S. Virgin Islands for $60 million, less than half of the original $125 million asking price.
The 2 islands were dubbed by locals as "Pedophile Island," after it came to light that Epstein had used them as a location to sexually abuse young women and girls for years. Despite the islands’ dark pasts, Deckoff has plans to transform them into a luxury resort. According to Forbes, Deckoff has already begun searching for architects and engineers to help create his new resort, which is set to open in 2 years.
"Mr. Deckoff plans to develop a state-of-the-art, five-star, world-class luxury 25-room resort that will help bolster tourism, create jobs, and spur economic development in the region, while respecting and preserving the important environment of the islands," a press release said.
As a part of an earlier settlement between the Virgin Islands and Epstein’s estate, a large portion of the proceeds from the islands’ sale will be donated to projects that "help Virgin Islands residents or inhabitants who are victims of sexual assault, human trafficking, sexual misconduct, and child sexual abuse," according to the Virgin Islands Justice Department.