Epstein's Compensation Fund Paid Around $121 Million to His Victims
© AP Photo / Jeenah MoonAttorney Gloria Allred, holds a picture of Jeffrey Epstein and her client Teala Davis during a news conference, Thursday, Nov. 21, 2019, in New York, about the filing of a lawsuit against the estate of Epstein. Davies says she was 17 when she was victimized by Epstein
© AP Photo / Jeenah Moon
The notorious financier and multi-millionaire Jeffrey Epstein was accused by numerous woman of involving them in sex trafficking scheme. Nearly 150 of the lawsuits were said to be found reasonable and the Epstein estate was used as the main source for compensation payments.
Jeffrey Epstein’s compensation fund has already paid nearly $121 million to his victims as two years have passed since the death of the disgraced mogul, according to a statement from fund's administrator Jordana Feldman, issued on Monday.
To satisfy the compensation claims, a special Compensation Programme was established in 2020 that currently operates with the Epstein estate, estimated at around $620 million. It includes Epstein's residences in Manhattan, Florida and private islands in the Virgin Islands territories. The fund had difficulties with payments as a drop in global market prices reduced the value of Epstein's estate to a mere $240.8 million.
© AP Photo / John MinchilloJeffrey Epstein Associate
Jeffrey Epstein Associate
© AP Photo / John Minchillo
The payments started last year and are expected to cover around 150 lawsuits. Currently, 92 percent of the claims, about 140, have been satisfied. After receiving compensation, the women were obliged not to file further legal complaints. In total, the Compensation Programme received 225 appeals. According to Feldman, another 100 claims are expected to come.
The first charges were brought against Epstein in the 2000s and in 2019 he was arrested for crimes related to sex trafficking, sexual abuse, child procurement for prostitution and soliciting a prostitute. He died in prison, presumably a suicide, in August 2019, while awaiting trial on new charges.
The investigation into his sex-trafficking net continues with the main suspect, Epstein’s ex-girlfriend, Ghislaine Maxwell, arrested in 2020 after it was revealed that she had helped to solicit minor girls for Epstein to use sexually.