The island that was termed Jeffrey Epstein’s infamous “pedophile island” has a new owner.
Hedge fund founder Stephen Deckoff has acquired two of the Caribbean islands formerly owned by the billionaire sex offender Epstein, according to Forbes.
The mogul confirmed he had finalized his purchase of the Great St. James and Little St. James islands on Wednesday.
The islands are located in the U.S. Virgin Islands, an American territory.
Deckoff said he doesn’t plan to use the islands as a personal residence — as Epstein did.
The financier said he instead intends to develop a world-class resort on the islands.
“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 of his plans.
“I very much look forward to working with the U.S. Virgin Islands to make this dream a reality.”
SOLD. Great St. James and Little St. James have sold and closed with a combined price of $60M.
This represents the highest-priced trade in the history of the U.S. Virgin Islands. pic.twitter.com/EXfUXXuBUH
— Bespoke Real Estate (@Bespoke) May 3, 2023
Epstein’s ownership of the islands made it synonymous with the deceased billionaire’s sex trafficking ring.
Victims of the well-connected sex criminal have recounted being abused on the island — by Epstein, as well as his associates.
Little St. James still has structures remaining from Epstein’s ownership of the land, including a bizarre structure the former owner installed on his getaway.
Deckoff ultimately acquired the islands for $60 million — less than half of the $125 million originally sought by Epstein’s estate.
Under a civil settlement with Epstein’s estate, the government of the U.S. Virgin Islands will receive half of the proceeds of the islands’ sale.
The funds will be used for a trust to provide services and counseling for victims of sexual abuse.
The new owner is in the process of recruiting architects and engineers to develop the islands as vacation destinations, according to Forbes.
Deckoff has lived in the U.S. Virgin Islands since 2011. He said that he’s never met Epstein.
This article appeared originally on The Western Journal.