Investor Stephen Deckoff reportedly has purchased the infamous property for $60 million
A view of Little St. James island © Wikipedia
The two Caribbean islands that once belonged to deceased sex offender Jeffrey Epstein have been bought by a billionaire private equity executive who plans to turn them into a luxury resort.
SD Investments LLC, an investment firm led by Stephen Deckoff, announced the acquisition of the islands, Great St. James and Little St. James, on its website on Wednesday.
Part of the US Virgin Islands, the properties had been on the market for over a year and were sold for $60 million, less than half of the original $125 million asking price, according to Forbes. Boasting a mansion, several guest villas, a helipad, and numerous pools, the property was allegedly used for years by Epstein to sexually abuse young women and traffic children.
“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.” according to the statement from SD Investments.
“A significant portion of the sale proceeds” are to be paid to the government of the Virgin Islands under a previous settlement agreement with Epstein’s estate.
According to Forbes, Deckoff, a resident of the US Virgin Islands, is worth $3 billion. He is a co-founder of private equity firm Black Diamond Capital Management, which manages $9 billion in assets.
Disgraced financier Jeffrey Epstein died in a Manhattan federal prison in 2019 while awaiting trial for sex trafficking. A decade earlier he was convicted of soliciting prostitution from a minor, for which he was registered as a sex offender. According to the prosecution, among his victims were girls possibly as young as 11 years of age.
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