Jeffrey Epstein Worth $57 Million More Than Previous Estimates, Had His Own Bank That Received Millions After His Death

Despite Jeffrey Epstein dying in August, his estate funneled money into a mysterious bank in the U.S. Virgin Islands, which he established years before his death. A New York Times report said that $12 million from Epstein’s estate was deposited into this little-known bank that Jeffrey controlled.

Epstein reportedly was approved by the U.S. Virgin Islands in 2014 to start up a bank that went by the name of Southern Country International. The international bank was specialized and had restrictions to only do business with offshore clients. However, there is no proof that it ever had any clients other than Jeffrey Epstein.

In his application, Epstein sold himself as “one of the pioneers of derivative and option-based investing,” despite numerous questions on how he became a big-time investor after being a math teacher and how exactly he acquired his wealth. Epstein added on the bank application that he wanted to “shift his focus to the dynamic discipline of international banking.”

Epstein did confess that he had “some legal difficulties” in Florida but added that the federal investigation was “discontinued in 2008.” Epstein’s “legal difficulties” was pleading guilty to state charges of procuring for prostitution a girl below age 18. He was sentenced to 18 months in prison.

The government of the Virgin Islands approved Epstein’s application to establish a banking entity, and Epstein had to renew his license in each of the next five years. During the renewal process in April of 2018, Epstein’s lawyer told the Virgin Islands that the bank had not commenced operations. Financial regulators did not investigate the bank any further since the bank allegedly was not conducting business.

Epstein owned two private islands in the U.S. Virgin Islands, Little St. James and Great St. James. The private islands are valued at $86 million. Epstein based his financial investment company on the island St. Thomas so that he could reduce federal income taxes since it is an offshore tax haven.

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Jeffrey Epstein died on August 10, 2019, under suspicious circumstances at the Metropolitan Correctional Center (MCC) while awaiting trial for federal charges of sex trafficking and conspiracy to traffic minors for sex. But the New York City Medical Examiner ruled that Epstein’s death was suicide by hanging. The cause of death that not everyone agrees with, including famed pathologist Dr. Michael Baden, who believes Epstein’s injuries reflect strangulation by homicide more than suicide by hanging.

Then in mid-December, Epstein’s estate transferred $15.5 million to Southern Country International bank in two checks, according to the NYT. Southern Country returned $2.6 million to the state, leaving the total it received at $12.9 million. Apparently, dead men tell no tales, but they can make $12 million bank deposits.

Documents do not provide a reason for the transfers, and a lawyer for Epstein’s estate said that some of the payments were made in error.

Records that were unveiled on Friday, that stated the Southern Country bank had $693,157 in assets on the day Epstein died, August 10, 2019. By the end of 2019, Southern Country bank had a year-end value of $499,759. It is not known what happened to the nearly $200,000, that vanished from the mysterious bank in less than five months.

At the time of his death, Jeffrey Epstein had a net worth of $577 million. However, there are new reports that up Epstein’s assets by over $57 million than the previous estimates.

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According to court papers filed in Virgin Islands Superior Court by lawyers of the Epstein estate, the convicted pedophile has a net worth of over $634 million.

The increased value of Epstein’s estate came when to sold off various assets, including a 2018 Bentley worth $195,000, a 2019 Mercedes worth $133,200, and three Chevrolet Suburbans worth $112,000 combined, according to the court documents. The estate liquidated four bank accounts associated with Epstein’s companies that had over $500,000 in cash.

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Epstein’s net worth could still go even higher because the figure does not include the value of his art collection, his jewelry, watches, and company shares, which are all still pending appraisal.

Knowing how much Epstein’s estate is worth is important for the lawsuits that have been filed against him by alleged female victims of his sex trafficking. Epstein’s estate has been sued by 23 women who claim they were sexually abused by Epstein or after being sex trafficked by him.

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