Billionaire Buys Jeffery Epstein's Islands, Paving Way For "Five-Star Resort"

Billionaire investor Stephen Deckoff purchased two Caribbean islands previously owned by Jeffrey Epstein, the late financier accused of sex trafficking. Deckoff has plans to transform one of the islands, known by some as "Pedophile Island," into a world-class resort. 

On Wednesday, Deckoff, under his firm SD Investments, announced the acquisition of the Great St. James and Little St. James islands for $60 million, or less than half of their initial asking price. 

Court filings have revealed Epstein used one of the islands to sexually abuse young girls for years. The billionaire wants to purge the island of evil for a new "state-of-the-art, five-star, world-class luxury 25-room resort."

"Mr. Deckoff plans to develop a state-of-the-art, five-star, world-class luxury 25-room resort that will help bolster tourism, create jobs, and spur economic development in the region, while respecting and preserving the important environment of the islands," a press release from the investment firm read. 

AP News reported funds from the island sale would go towards the $105 million sex trafficking lawsuit against Epstein's estate, which the US Virgin Islands government settled. SD Investments didn't reveal how much it would invest in the new resort. 

Whether or not high net-worth folks will visit the island is a big gamble for Deckoff...

If the new resort ever gets built, some of Epstein's guests who visited the island over the years, such as Prince Andrew, Bill Clinton, and LinkedIn co-founder Reid Hoffman, probably won't return. 

There's no word if Deckoff will keep Epstein's mysterious temple structure. 

The purchase was reported on the same day that CNBC revealed JPMorgan Chase CEO Jamie Dimon would be deposed in late May over civil lawsuits accusing the megabank of benefiting from Epstein's sex trafficking operations.