Frozen Jeffrey Epstein victims’ fund wants $50M sale of intercourse felony’s NY mansion to undergo, lawyer says

A residence belonging to Jeffrey Epstein at East 71st avenue is seen on the Higher East Facet of Manhattan on July 8, 2019 in New York

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A reported deal to promote intercourse felony Jeffrey Epstein’s infamous New York Metropolis mansion for about $50 million might unfreeze a compensation fund arrange for the late cash supervisor’s victims. The fund final month suspended making settlement gives to claimants due to liquidity issues along with his property.

The Wall Road Journal’s report of the gross sales contract for the 28,000 square-foot Higher East Facet townhouse to an unidentified purchaser comes three weeks earlier than the deadline for claims to be filed with the Epstein Victims’ Compensation Program.

Brad Edwards, a lawyer who represents numerous Epstein’s victims, mentioned he had been “unaware of the sale” earlier than being contacted by CNBC.

“However I’m happy to listen to that the liquidity problems with the property will quickly be cleared up so as to make correct compensation for his many victims,” Edwards mentioned.

“The sale is monumental because it probably marks the top to the home of horrors that Epstein ran out of that mansion,” Edwards mentioned.

The sale to the unidentified purchaser — who can be paying considerably lower than the unique $88 million asking value — has but to shut.

The seven-floor, 40-room mansion presently is marketed as an energetic itemizing on the web site of the Modlin Group. Adam Modlin, who’s the property’s itemizing agent, didn’t reply to requests for remark from CNBC.

Additionally but to shut is the sale of Epstein’s mansion in Palm Seaside, Fla., which the Journal has reported developer Todd Michael Glaser is in contract to purchase. The Palm Seaside mansion initially had an almost $22 million asking value.

Proceeds from each properties may very well be used for the compensation program if licensed by the legal professional normal of the U.S. Virgin Islands, who holds liens on Epstein’s property.

The fund, launched final June, has acquired greater than 150 claims and had paid out greater than $50 million earlier than the settlement gives had been suspended.

Federal prosecutors in July 2019 charged Epstein, 66, with youngster intercourse trafficking crimes associated to dozens of underage ladies whom he was accused of sexually abusing between 2002 and 2005 at his properties in Manhattan and Palm Seaside.

Epstein, who had pleaded not responsible in that federal case, killed himself whereas in a Manhattan federal jail a month later.

Eleven years earlier than his loss of life, the previous good friend of ex-Presidents Donald Trump and Invoice Clinton had pleaded responsible in Florida to a state cost of felony solicitation of prostitution, a case that concerned an underage woman. Epstein served 13 months in jail for that case.

The British socialite Ghislaine Maxwell, a former girlfriend and property supervisor of Epstein’s, is presently being held with out bail in a Brooklyn federal jail on fees associated to her alleged recruitment and grooming of a number of underage ladies for sexual abuse by him in New York and Palm Seaside, in addition to at his dwelling in Santa Fe, New Mexico, and her personal residence in London.

Jordana Feldman, the impartial administrator of the Epstein victims’ compensation program, on Feb. 4 introduced that she was briefly suspending compensation gives to victims “attributable to uncertainty concerning the liquidity” of property of Epstein’s property.

Feldman’s transfer got here a day after Epstein’s property knowledgeable her that it didn’t have adequate liquidity to fund the newest replenishment request by the fund. The property informed Feldman that it was working to safe extra liquidity.

“Though I sincerely remorse having to take this motion, I’ve concluded that it’s crucial to guard the pursuits of eligible claimants who haven’t but resolved their claims via the Program,” Feldman mentioned on the time.

“Issuing a compensation provide that can not be well timed and absolutely funded and paid, per the way in which the Program has operated so far, would compromise claimants’ pursuits and the guiding ideas of the Program,” she mentioned.

Feldman added that she was dedicated to making sure that each one eligible claimants get the “compensation and validation they deserve.”

The fund cease accepting registrations from candidates on Feb. 8. The deadlines for claims to be filed is March 25.

Jeff Solnet, a spokesman for Feldman, had no touch upon the report of the sale of the Manhattan townhouse.

Daniel Weiner, a lawyer for the co-executors of Epstein’s property, didn’t return requests for remark.

Weiner informed CNN final month that the co-executors had acquired “expressions of curiosity from quite a few events” concerning probably buying Epstein’s two islands within the Virgin Islands, Little St. James and Nice St. James.

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