The lawyer representing the estate of deceased suspected sex offender, Jeffrey Epstein, is confident the majority of Epstein’s accusers will drop their lawsuits and join the victim compensation fund.
A letter filed in Manhattan federal court by estate lawyer, Bennet Moskowitz, highlighted five accusers set to drop their lawsuits in order to enter into the victim fund.
The letter further predicts that ‘the vast majority will or are very likely to participate.’
Having been arrested on federal charges for trafficking underage girls between 2002 and 2005, Epstein hanged himself in August last year.
However, accusers are now suggesting that Epstein’s crimes span considerably beyond these dates which in turn make the liabilities and expected number of victims difficult to predict.
It is estimated that Epstein was worth over $577 million when he died. However, executors will struggle to balance the assets and liabilities until the victim fund’s work is finalised.
It is hoped that the victim fund strikes a fair balance for beneficiaries and victims.
The fund will permit victims to be compensated confidentially, without the need for a legal and public trial.
It will also enable the estate to retain more control and understanding of the compensation liabilities.
Victims who would prefer to take their case to trial will also retain that right.
Kenneth Feinberg, an administrator who helped work on a fund to compensate the victims of 9/11 will oversee the Epstein victim fund.
What are the major difficulties executors experience in balancing assets and liabilities?
