Citing uncertainty regarding funding for the alleged victims of the late sex-offender Jeffrey Epstein, the Epstein Victims Compensation Program has suspended payment offers. Part of the Epstein estate is located in the U.S. Virgin Islands.
"Although I sincerely regret having to take this action, I have concluded that it is necessary to protect the interests of eligible claimants who have not yet resolved their claims through the program," said Jordana H. Feldman on Thursday, a New York attorney who administers the Epstein Victims Compensation Program.
"Issuing a compensation offer that cannot be timely and fully funded and paid, consistent with the way the program has operated to date, would compromise claimants' interests and the guiding principles of the program," Ms. Feldman said.
The program has so far paid roughly $50 million to alleged victims from funds tied to the Epstein Estate, which was initially valued at $630 million. But the fund is said to be facing liquidity issues and has not been able to replenish the account to pay the alleged victims.
On Thursday night, USVI Attorney General, Denise George made known that her office filed an emergency motion with the Probate Court requesting it also suspend all payments and sales of assets by the Co-Executors so that steps can be taken to preserve and protect the estate’s assets, and prevent an event like this from recurring.
Said Ms. George in a statement on the matter, “My office’s worst fears have been realized as we learned the Epstein Estate will not make its currently owed payment to the fund it claimed to have set up to compensate sexual abuse survivors and victims of Jeffrey Epstein. The Estate has found its way to pay for lawyers, landscaping, and helicopter fees, but not the brave women who have stepped forward to participate in the compensation fund. It is, unconscionably, another promise made and broken by Epstein and now, his Estate.
"The Attorney General’s Office has consistently and promptly released funds from its criminal activity liens to support the operations and awards of the fund. It was unaware of this default until, after repeated requests by the victim program Administrator, the Estate yesterday claimed that it could not make its agreed-to payment and did not know when it could make a payment.
"The Estate breached its agreement, entered into with the Government of the Virgin Islands and counsel for victims, and approved by the Probate Court of the U.S. Virgin Islands."
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