Jeffrey Epstein's U.S. Virgin Islands Properties Sold for Resort Development
The notorious Little St James Island, once owned by Jeffrey Epstein, is now slated for transformation into a luxury resort following its sale in May 2023.
Sam Morgan
- 2024-01-06
- Updated 05:18 PM ET
(NewsNibs) - Little St James Island, occupying 75 acres in the pristine waters of the U.S. Virgin Islands, fell into infamy under the ownership of Jeffrey Epstein. Acquired in 1998 for just under $8 million, the island underwent extensive remodeling, starting in 2007 with its main compound expanding significantly. Epstein's island added an array of buildings, pools, docks, a helipad, and a much-discussed structure known as a "temple," morphing it into a private oasis near St Thomas, one of the primary islands in the archipelago. Epstein purchased the neighboring Great St James Island in 2016, enhancing his estate. Following his 2008 conviction for child prostitution and sex offender registration in 2010 in the Virgin Islands, Epstein brought global attention to the islands for the worst reasons, with widespread allegations of trafficking and sexually abusing women and underage girls.
Legal Repercussions and Aftermath
The U.S. Virgin Islands' government, addressing the egregious activities on Epstein’s properties, sought control of his assets after the financier’s suicide in prison in 2019. Legal battles led to a significant November 2022 settlement with Epstein's estate, with the government receiving $105 million, half of the proceeds from the sale of the islands, and a $450,000 penalty for the environmental damage caused by construction work. Earlier, in December 2022, they targeted JPMorgan Chase with a lawsuit, alleging the bank facilitated Epstein's illegal undertakings. The Virgin Islands, purchased from Denmark during WWI to prevent their use as a German submarine base, had fallen under a shadow during Epstein's tenure, but they're now seeing a pivot toward a more positive future with plans for the construction of a luxury resort.
Tourism and Environmental Concerns
While Little St James has a dark history marred by Epstein's actions, including a worldwide grooming scheme detailed in allegations and lawsuits, the island’s notoriety has made it a point of interest for tourists. Boat tours in the area now typically include the island as a landmark. Epstein had integrated himself into the high society, hosting known scientists, politicians, and celebrities, with some accusations involving prominent individuals either participating in or being aware of his criminal activities. Staff on the island, bound by confidentiality agreements, were discouraged from contacting law enforcement and even encouraged to find 'pirate treasure,' for which they were compensated. These practices contributed to Epstein maintaining control over the island's insular operations.
As Epstein's islands transition to new ownership, with environmental restoration and a luxury resort on the horizon, the U.S. Virgin Islands are working to overcome the murky legacy of their past, both environmental and legal. The pending development signals an attempt to bring economic growth and renewal to the region tarnished by the actions of its previous owner.
