Jeffrey Epstein fund halts victim payouts

A fund set as much as present cash to scores of girls who say they have been abused by financier Jeffrey Epstein after they have been as younger as 14 has abruptly suspended payouts over unsure funding.

The Virgin Islands attorney-general on Thursday blamed the transfer on Epstein’s property as she moved to freeze its belongings.

The announcement by the Epstein Victims’ Compensation Program got here by way of a launch that attributed the suspension to uncertainty concerning the liquidity of property belongings wanted to finance payouts.

Officers mentioned the fund, which operates independently of the property, would have as much as $US630 million ($A830 million) when it started operations final June.

It mentioned funds, which have topped $US55 million ($A72 million), is not going to resume earlier than March 25, the deadline to file claims. The deadline to register for this system is Monday.

Late Thursday, US Virgin Islands Legal professional Common Denise N. George mentioned in an announcement that her workplace was in search of a court docket order to freeze all funds and gross sales of belongings by the co-executors of Epstein’s property to protect and defend its belongings.

Jeffrey Epstein
The fund overseeing payouts to victims of Jeffrey Epstein has abruptly ceased payouts. Credit score: AP