Please ensure Javascript is enabled for purposes of website accessibility
Epstein May Have Gamed the System From Beyond the Grave
gvw_ap_news
By Associated Press
Published 5 years ago on
August 22, 2019

Share

FORT LAUDERDALE, Fla. — The will that Jeffrey Epstein signed just two days before his jailhouse suicide puts more than $577 million in assets into a trust fund that could make it more difficult for his dozens of accusers to collect damages.

“This is the last act of Epstein’s manipulation of the system, even in death.”attorney Jennifer Freeman
Estate lawyers and other experts say prying open the trust and dividing up the financier’s riches is not going to be easy and could take years.
“This is the last act of Epstein’s manipulation of the system, even in death,” said attorney Jennifer Freeman, who represents child sex abuse victims.
Epstein, 66, killed himself Aug. 10 in New York while awaiting trial on federal sex trafficking charges. The discovery of the will with its newly created 1953 Trust, named after the year of his birth, instantly raised suspicions he did it to hide money from the many women who say he sexually abused them when they were teenagers.
By putting his fortune in a trust, he shrouded from public view the identities of the beneficiaries, whether they be individuals, organizations or other entities. For the women trying to collect from his estate, the first order of business will be persuading a judge to pierce that veil and release the details.
From there, the women will have to follow the course they would have had to pursue even if Epstein had not created a trust: convince the judge that they are entitled to compensation as victims of sex crimes. The judge would have to decide how much they should get and whether to reduce the amounts given to Epstein’s named beneficiaries, who would also be given their say in court.

The Assets Listed Include More Than $56 Million in Cash

“Wealthy people typically attempt to hide assets in trusts or other legal schemes. I believe the court and his administrators will want to do right by Epstein’s victims, and if not, we will fight for the justice that is long overdue to them,” attorney Lisa Bloom, who represents several Epstein accusers, said in an email.

“Wealthy people typically attempt to hide assets in trusts or other legal schemes. I believe the court and his administrators will want to do right by Epstein’s victims, and if not, we will fight for the justice that is long overdue to them.” — attorney Lisa Bloom
She said attorneys for the women will go after Epstein’s estate in the U.S. Virgin Islands, where the will was filed and where he owned two islands.
Bloom said it was “gross negligence” on the part of Epstein’s lawyers and jail personnel to allow him to sign a new will, given that he had apparently attempted suicide a short time before. Bloom called a will “a classic sign of impending suicide for a prisoner.”
The lawyers who handled the will have not returned calls for comment.
The assets listed in the 20-page document include more than $56 million in cash; properties in New York, Florida, Paris, New Mexico and the Virgin Islands; $18.5 million in vehicles, aircraft and boats; and art and collectibles that will have to be appraised.
Typically in any case, trust or not, there is a pecking order of entities that line up to get a share of an estate, said Stephen K. Urice, a law professor at the University of Miami. First in line would be the government — in Epstein’s case, several governments — which will collect any taxes owed on his properties and on his estate itself.

The U.S. Government May Seek Civil Forfeiture of Epstein’s Properties

Next would be any other creditor to whom Epstein owed money, such as a bank or mortgage company.
Lawsuits against the estate by victims would come into play somewhere after that.
Epstein’s only known relative is a brother, Mark Epstein, who has not responded to requests for comment. It is unclear whether he was named a beneficiary.
One other possibility is that the U.S. government will seek civil forfeiture of Epstein’s properties or other assets on the grounds that they were used for criminal purposes. Government lawyers would have to produce strong evidence of that at a trial-like proceeding.
If they prevailed, they would be able to seize the properties, sell them and distribute the proceeds to victims.
“The fact that there is a will should not stop them,” said Cheryl Bader, a professor at the Fordham University School of Law.
Federal prosecutors declined to comment on the possibility of a forfeiture action.

DON'T MISS

What to Know About Pam Bondi, Trump’s New Pick for Attorney General

DON'T MISS

North Korean Leader Says Past Diplomacy Only Confirmed US Hostility

DON'T MISS

Democrats Strike Deal to Get More Biden Judges Confirmed Before Congress Adjourns

DON'T MISS

Newsom Gaslights on Potential Gas Price Hikes in Fresno Visit

DON'T MISS

Automakers to Trump: Please Require Us to Sell Electric Vehicles

DON'T MISS

President Biden Welcomes 2024 NBA Champion Boston Celtics to White House

DON'T MISS

Ohtani Makes History With 3rd MVP, Judge Claims 2nd AL Honor

DON'T MISS

Trump Chooses Pam Bondi for Attorney General Pick After Gaetz Withdraws

DON'T MISS

Average Rate on a 30-Year Mortgage in the US Rises to Highest Level Since July

DON'T MISS

Cutting in Line? American Airlines’ New Boarding Tech Might Stop You at Now Over 100 Airports

UP NEXT

Bomb Cyclone Kills 1 and Knocks Out Power to Over Half a Million Homes Across the Northwest US

UP NEXT

Volunteers Came Back to Nonprofits in 2023, After the Pandemic Tanked Participation

UP NEXT

New Study: Proposed Trump Tariffs Could Cost US Consumers $78 Billion a Year

UP NEXT

Riders Stuck in Midair for Over 2 Hours on Knott’s Berry Farm Ride

UP NEXT

Shouting Racial Slurs, Neo-Nazi Marchers Shock Ohio’s Capital

UP NEXT

More Logging Is Proposed to Help Curb Wildfires in the US Pacific Northwest

UP NEXT

Scientists Fear What’s Next for Public Health if RFK Jr. Is Allowed To ‘Go Wild’

UP NEXT

Warren Slams Biden Admin for Failing to Hold Israel Accountable on Gaza Aid

UP NEXT

Suicides in the US Military Increased in 2023, Continuing a Long-Term Trend

UP NEXT

New FDA Rules for TV Drug Ads: Simpler Language and No Distractions

Newsom Gaslights on Potential Gas Price Hikes in Fresno Visit

6 hours ago

Automakers to Trump: Please Require Us to Sell Electric Vehicles

6 hours ago

President Biden Welcomes 2024 NBA Champion Boston Celtics to White House

7 hours ago

Ohtani Makes History With 3rd MVP, Judge Claims 2nd AL Honor

7 hours ago

Trump Chooses Pam Bondi for Attorney General Pick After Gaetz Withdraws

7 hours ago

Average Rate on a 30-Year Mortgage in the US Rises to Highest Level Since July

8 hours ago

Cutting in Line? American Airlines’ New Boarding Tech Might Stop You at Now Over 100 Airports

8 hours ago

MLB Will Test Robot Umpires at 13 Spring Training Ballparks Hosting 19 Teams

8 hours ago

Death Toll in Gaza From Israel-Hamas War Passes 44,000, Palestinian Officials Say

8 hours ago

Jussie Smollett’s Conviction in 2019 Attack on Himself Is Overturned

9 hours ago

What to Know About Pam Bondi, Trump’s New Pick for Attorney General

NEW YORK — Pam Bondi, the former Florida attorney general, was chosen Thursday by Donald Trump to serve as U.S. attorney general hours after...

4 hours ago

4 hours ago

What to Know About Pam Bondi, Trump’s New Pick for Attorney General

5 hours ago

North Korean Leader Says Past Diplomacy Only Confirmed US Hostility

5 hours ago

Democrats Strike Deal to Get More Biden Judges Confirmed Before Congress Adjourns

6 hours ago

Newsom Gaslights on Potential Gas Price Hikes in Fresno Visit

President Joe Biden with Mary Barra, the chief executive of General Motors, at the Detroit Auto Show, Sept. 14, 2022. President-elect Donald Trump has promised to erase the Biden administration’s tailpipe rules designed to get carmakers to produce electric vehicles, but most U.S. automakers want to keep them. (Doug Mills/The New York Times)
6 hours ago

Automakers to Trump: Please Require Us to Sell Electric Vehicles

7 hours ago

President Biden Welcomes 2024 NBA Champion Boston Celtics to White House

7 hours ago

Ohtani Makes History With 3rd MVP, Judge Claims 2nd AL Honor

Former Florida Attorney General Pam Bondi, speaks before Republican presidential nominee former President Donald Trump arrives to speak at a campaign rally at First Horizon Coliseum, Saturday, Nov. 2, 2024, in Greensboro, NC. (AP/Alex Brandon)
7 hours ago

Trump Chooses Pam Bondi for Attorney General Pick After Gaetz Withdraws

Help continue the work that gets you the news that matters most.

Search

Send this to a friend