Epstein's Notorious Island Sold, Set for Luxury Resort Transformation
Little St James, once owned by Jeffrey Epstein, is to become a luxury resort following its recent sale in May 2023.
Morgan Riley
- 2024-01-06
- Updated 02:10 AM ET
(NewsNibs) - Little St James, a 75-acre island in the US Virgin Islands known for its controversial past under the ownership of the late financier Jeffrey Epstein, has been sold. Epstein, who had purchased the island for just under $8 million in 1998, hosted numerous high-profile guests, including scientists, celebrities, and royals before his death in 2019. The island, faced with allegations of being a hub for sexual abuse, is now at the forefront of transforming into a luxury travel destination. The sale in May 2023 follows a significant settlement between Epstein's estate and the government of the US Virgin Islands, including reparations for environmental damage.
A History of Infamy
Concerns regarding Little St James' use rose to public awareness when the US Virgin Islands' attorney general filed a criminal complaint, accusing the island of being central to disturbing activities like sexual servitude and child abuse. A federal lawsuit filed against JPMorgan Chase in December 2022 further alleged the bank's complicity in Epstein's trafficking operations. Ghislaine Maxwell, a close associate of Epstein, was convicted on sex-trafficking charges in June 2021 with a fine of $750,000. Epstein's own criminal history in the Virgin Islands began with a conviction for child prostitution in 2008, and despite facing multiple inquiries, his financial influence impeded investigations.
Transformation and Settlement
The Virgin Islands' government reached a substantial settlement with Epstein's estate in November 2022, acquiring $105 million and half the proceeds from the island's sale, earmarked for a luxury development project. The agreement recognized the island's future potential while addressing past transgressions, including a $450,000 allocation for environmental restoration. The island's selling price was reported to be significantly less than the initial $125 million asking price, signaling a new chapter for the property that features idyllic landscapes such as coral reefs, inlets, and forested areas. Little St James has already sparked curiosity and has been added to some local boat tour itineraries.
A Storied Future Ahead
As Little St James transitions from a private haven of secrecy to a tourist attraction, it carries with it the remnants of a troubled history. With expansive development plans, including luxury resorts, the island is poised to redefine its narrative. The transformation symbolizes a move away from the shadow of Epstein's legacy towards a focus on tourism and luxury, in line with the Virgin Islands' reputation as a premier travel destination.
