Billionaire purchases Epstein's islands for luxury resort development.

Billionaire investor Stephen Deckoff has purchased Jeffrey Epstein's private islands off the coast of St. Thomas for $60 million, planning to build a 25-room resort on the property. The sale proceeds will go towards a $105 million settlement that Epstein's estate reached with the government of the U.S. Virgin Islands. Deckoff, the founder of Black Diamond Capital Management, acquired the islands through an investment vehicle called SD Investments. One of the islands, Little St. James, was where Epstein lived and allegedly sexually abused teenage girls.