『The Epstein Estate And The USVI Come To Terms On The CICO Suit』のカバーアート

The Epstein Estate And The USVI Come To Terms On The CICO Suit

The Epstein Estate And The USVI Come To Terms On The CICO Suit

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 In late 2022, the U.S. Virgin Islands (USVI) reached a landmark settlement with the estate of Jeffrey Epstein to resolve its civil racketeering claims under the territory’s Criminally Influenced and Corrupt Organizations Act (CICO), which is similar to a RICO statute. The government, led by then-Attorney General Denise George, had argued that Epstein’s estate and associated entities used his properties and corporate structures in the territory as tools in a criminal enterprise that enabled sex trafficking, sexual servitude, and fraud. Under the settlement, the estate agreed to pay $105 million in cash and turn over half of the proceeds from the sale of Little St. James — Epstein’s infamous private island where many crimes allegedly occurred — to the USVI. The agreement also included payment of roughly $450,000 for environmental remediation on another Epstein-owned island, and the estate pledged to wind down operations in the territory and provide documents to assist ongoing investigations. No admission of liability was made by the estate or its co-executors.

As part of the settlement framework, the USVI government earmarked proceeds to benefit survivors and the territory more broadly. Funds from the island sale were designated for a trust to support local victims of sexual abuse, trafficking, and misconduct, as well as for counseling, advocacy, law enforcement, and public safety programs. The settlement also required the return of more than $80 million in economic development tax benefits that Epstein’s companies had allegedly fraudulently obtained to fuel his enterprise. While the deal brought one major chapter of litigation to a close, some observers noted that it concluded without full discovery or depositions that might have further exposed details of Epstein’s network and enablers — a point of lingering frustration among critics despite the financial restitution achieved.



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