A private equity tycoon has bought Jeffrey Epstein’s infamous Caribbean islands for less than half the initial asking price.
Stephen Deckoff, the founder of Black Diamond Capital Management, paid £48million for Little St James and Great St James in the US Virgin Islands, well below the £100million valuation.
He plans a 25-room luxury resort to open in about two years.
Cut-price deal: Stephen Deckoff, the founder of Black Diamond Capital Management, paid £48million for Little St James and Great St James in the US Virgin Islands
Deckoff, who moved to the area more than a decade ago, said he never met Epstein or visited what was known as ‘paedophile island’ due to its role in Epstein’s sex trafficking.
The islands were put on sale after Epstein died while he was awaiting trial in 2019.
‘I am tremendously pleased to be able to bring the area a world-class destination benefiting its natural grace and beauty,’ said Deckoff.
‘I very much look forward to working with the US Virgin Islands to make this dream a reality.’
He aims to drive tourism and development ‘while respecting and preserving the important environment of the islands’.
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