The Manhattan mansion of disgraced financier Jeffery Epstein was sold to an anonymous buyer for $ 51 million, which will directly benefit the restitution fund that provides compensation to Epstein’s victims of sexual abuse.
The seven-story mansion, once valued at $ 88 million, sold for much less after the 66-year-old was charged with sex trafficking in 2019, shortly before he was found dead in his cell at the correctional facility. New York Metropolitan. where he had been awaiting trial.
Epstein had pleaded not guilty to federal charges stemming from an indictment that accused him of directing a sex trafficking ring for underage girls, some as young as 14 years old.
The seven-story, 40-room home is one of the largest private homes in Manhattan, and the sale of the property is expected to be one of the highest-valued homes of the year. It was dubbed the “House of Horrors” by the New York tabloids after it was alleged that Epstein had underage girls abused in the mansion, and images of child abuse were found in a safe during an FBI raid.
The sale was completed after a judge in the U.S. Virgin Islands rejected an attempt by the territory’s attorney general to freeze the sale of any additional assets in his estate.
Attorney General Denise George, along with a group of more than two dozen alleged victims, made the emergency request to freeze assets in February after an administrator with the Epstein Victims Compensation Program Announced suspended compensation offers due to uncertainty about future succession funding of the program.
The judge overseeing the administration of Epstein’s estate ruled that George did not have the legal capacity to request an asset freeze.
In a statement from Jordana H Feldman, the program’s independent manager, it was revealed that the farm “did not have enough liquidity” to replenish the fund and could not predict when it might do so again.
When the program was being designed in 2019, George sought and received assurances from the estate that there were enough assets to fully fund the program, and there was no upper limit on the amount he could set aside to pay claims, even though damages caused By Epstein seems to outweigh his wealth.
Victim compensation program protocol requires the estate to pay all eligible claims based solely on the administrator’s determination and to supplement money available for compensation from other estate funds when the account falls below a certain threshold, it reported. ABC News. The fund has received more than 150 applications since it began operations last June and has paid $ 55 million in compensation for an undisclosed number of victims.
The $ 51 million sale of the Manhattan mansion earlier this week is already being rolled over to the compensation program so that it can “resume issuing new claim determinations,” according to an email from one of the estate’s attorneys. , Daniel Weiner.
George is Digismak’s reported cum editor with 13 years of experience in Journalism