Jeffrey Epstein's "paedophile island" will be turned into a luxury resort after a billionaire purchased it in a cut-price sale.
The investor, Stephen Deckoff, the founder of Black Diamond Capital Management, bought two of Epstein's Caribbean islands for $60m, according to Forbes. Mr Deckoff reportedly paid around 50 per cent of the price that was listed last year.
He said he would use the Caribbean islands to develop a 25-room luxury resort that would open in around two years.
Virgin Islands prosecutors allege that Epstein brought girls as young as 11 to the secluded islands by yacht and private helicopter, where he and his associates "trafficked, raped, sexually assaulted and held girls captive".
During Epstein's ownership, Little St James acquired local nicknames such as "Island of Sin" and "Paedophile Island", while the disgraced late businessman called it Little St Jeff's.
Mr Deckoff said he never met Epstein and only set foot on the islands after they were put on the market following his death.
The islands hosted high-profile figures including Prince Andrew and former US presidents Bill Clinton and Donald Trump.
According to flight logs for Epstein's private jet, the Duke of York paid at least one visit to the island, although former staff claimed he visited Little St James several times.
Mr Deckoff told Forbes: "I've been proud to call the US 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.
"I very much look forward to working with the US Virgin Islands to make this dream a reality."
The billionaire investor paid less than half of the initial asking price of $125 million for the two islands which were first put on the market more than a year ago by Epstein's estate.
Little St James, which Epstein purchased in 1998, spans over 70 acres and in addition to a main residential compound and four guest villas, the island includes a helipad, a private dock, two pools, three private beaches, a gym and a tiki hut.
Epstein bought Great St. James in 2016 for close to $20 million, according to court records.
Part of the proceeds of the sale will go towards a $105 million settlement which Epstein's estate agreed upon with the government of the US Virgin Islands last year.
Epstein was arrested on federal sex trafficking charges in July 2019 after prosecutors concluded that they were not bound by the terms of his 2008 agreement which included a non-prosecution deal.
He was found dead in his prison cell a month later.
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