Jeffrey Epstein's crimes caused a cloud to hang over his infamous islands and kept them on the market for more than a year. That is reportedly now over.
The islands that served as the setting for some of Epstein's worst crimes have now been sold for a total of $60 million, according to Forbes. The buyer is Stephen Deckoff, the founder of Black Diamond Capital Management, a private equity firm, Forbes reported.
"Deckoff plans to develop a 25-room luxury resort on the property, he said Wednesday, adding that he never met Epstein and never set foot on the islands until they were marketed following Epstein’s 2019 death," Forbes wrote.
“I’ve been proud to call the U.S. Virgin Islands home for more than a decade and am tremendously pleased to be able to bring the area a world-class destination benefitting its natural grace and beauty,” Deckoff told Forbes. “I very much look forward to working with the U.S. Virgin Islands to make this dream a reality.”
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Forbes also reported that Deckoff is recruiting engineers and architects to work on developing the resort, which he said will open in roughly two years. The sale comes after a year of the islands remaining unsold, according to the report.
"Epstein’s ownership has cast a dark shadow over the islands, despite the natural beauty of their palm tree-dotted beaches and crystal clear water," Forbes wrote. "The disgraced financier purchased Little St. James in 1998 for a reported $8 million. He lived in a large mansion there and constructed several bizarre structures on the property, which has been dubbed “pedophile island” for its role in Epstein’s sex trafficking ring."
Forbes also reported that Epstein bought the neighboring island, a largely undeveloped area called Great St. James, in 2016 for a reported $22.5 million.
"Deckoff–who has a net worth of $3 billion, according to Forbes’ estimates–built a fortune in private equity, working his way up at several firms, including Drexel Burnham Lambert, Bear Stearns and Kidder, Peabody & Co., before striking out on his own in 1995 with Black Diamond Capital," according to the report.
