Epstein Abuse Victims Fund Dried Up, Payments Postponed

Epstein Abuse Victims Fund Dried Up, Payments Postponed

The fund for the victims for convicted sex offender Jeffrey Epstein has dried up and will stop paying compensation until at least March 25.

 

The fund cannot pay out because the money in the current account, also known as cash, of the deceased American multimillionaire, has run out. The fund has already paid 50 million dollars in compensation to 150 victims.

Epstein committed suicide in his cell on August 10, 2019, while awaiting trial. His net worth is estimated at $ 240 million, but much of it is tied up in illiquid assets such as homes, aeroplanes and private investment. Due to the corona crisis, it would be not easy to sell the assets.

Jordana Feldman, manager of the fund, says she regrets the suspension, but it is necessary to protect the victims’ rights.

“If we offer compensation that cannot be paid on time or in full, it puts their interests at risk,” said Feldman. Feldman nevertheless assumes that there will soon be enough money to compensate the victims.

Epstein was arrested on charges of child abuse and human trafficking, involving dozens of underage girls.

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