Months after the death of convicted pedophile Jeffrey Epstein, new details are still coming to light about his life, and a mysterious bank he started that continues to live on, and has received millions of dollars from his estate.
It appears that a mysterious bank Jeffrey Epstein started in the Virgin Islands back in 2013 is still very much alive today, and it has received more than $12 million dollars in deposits since his death.
This, according to reports which claim Epstein started a bank called “Southern Country International,” which became one of the territory’s first international banking entities specializing in business with offshore clients. It then mysteriously received $12.9 million dollars from Epstein’s estate in December 2019—months after his death.
There are a lot of questions surrounding why the license for the bank was renewed each year and why Epstein was even given the approval in the first place, considering the fact that he was a registered sex offender. But regulators apparently didn’t pay much attention to the bank because it wasn’t actively doing business.
Reports also noted that the bank was “created under a territorial law that lacked many of the oversight requirements banks are usually subject to” here in the US, and its regulatory file appear to be largely empty.
While Epstein’s estate is being questioned about the transactions, one of the biggest questions that remains is, where is that money now? Because just two weeks after it received the multi-million-dollar checks, the bank claimed the year-end value of its assets stood at just under $500,000.
When Epstein died, the value of his estate stood at around $577 million dollars, but it has now increased to $634 million dollars, according to court documents.
Since his death, Epstein’s estate has made more than $1 million dollars by selling five cars, including a 2018 Bentley and a 2019 Mercedes, and by liquidating four bank accounts that held over $500,000 in cash. It’s still not clear who is making these decisions for Epstein’s estate, and if the value will be distributed to his victims.
Last month, the Virgin Islands become the first government entity to take legal action against Epstein, and the territory’s attorney general filed a lawsuit, calling for the seizure of both of his private islands and the numerous shell companies he started. The landmark lawsuit argues that Epstein’s abuse of underage girls lasted up until at least 2018, and he used the Virgin Islands as the hub for his sex trafficking ring.
The latest revelation about the mysterious transactions made to Epstein’s dormant bank is likely just the beginning as this legal battles heats up, and more information is expected to come to light.