In a stunning development, it has been reported that billionaire investor Stephen Deckoff has purchased the notorious private islands of the late convicted sex offender Jeffrey Epstein in the Caribbean. The islands, which had been on the market for a staggering $122 million, were sold for $60 million, according to Forbes.
Deckoff, who is the founder of private equity firm Black Diamond Capital Management, has said that he intends to turn the islands into a luxury resort. The plan is to build a state-of-the-art, five-star, world-class luxury 25-room resort on the two islands – 70-acre Little St. James and 160-acre Great St. James. Deckoff has reportedly hired architects and engineers to complete the job, which he aims to have completed in 2025.
According to a press release from Deckoff’s investment firm SD Investments LLC, the resort will “help bolster tourism, create jobs, and spur economic development in the region, while respecting and preserving the important environment of the islands.” Deckoff has also stated that he never met Epstein and had never been on the island until after Epstein was found dead in his jail cell in 2019.
The purchase of the islands has raised eyebrows in some circles, given Epstein’s association with them. Epstein, who was accused of running a sex trafficking ring involving underage girls, allegedly used the islands to carry out some of his crimes. However, Deckoff has emphasized that he intends to turn the islands into something positive for the region.
Private equity billionaire Stephen Deckoff has purchased two Caribbean islands formerly owned by the late Jeffrey Epstein.
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The purchase of Epstein’s private islands by Deckoff is a surprising development, and it remains to be seen what kind of impact the luxury resort will have on the region.
Nonetheless, it is clear that Deckoff sees an opportunity to turn what was once a symbol of depravity into a symbol of luxury and prosperity.