USVI Financial Structures
Jeffrey Epstein maintained a complex network of corporate and financial entities in the U.S. Virgin Islands. The USVI offers significant tax benefits under the EDC program for qualifying businesses, including reduced federal tax on locally-generated income.
Southern Trust Company
Southern Trust Company was among the USVI-registered entities through which Epstein conducted financial operations. It was one of multiple corporate shells and trusts that structured his wealth.
The Tax Benefits
Epstein’s USVI operations saved him substantial amounts in federal taxes. Estimates have suggested he saved tens of millions of dollars through the EDC program’s tax incentives applied to income routed through his USVI entities.
The USVI Settlement
When the Virgin Islands government sued Epstein’s estate following his death, Southern Trust Company and other USVI entities were among the subjects of the lawsuit. The 2022 settlement between the Epstein estate and the USVI resulted in substantial payments and the dissolution of his USVI corporate structures.
JPMorgan’s Banking
JPMorgan provided banking services for Epstein’s USVI entities. Their knowledge of the transactions flowing through these accounts was a subject of the subsequent JPMorgan litigation.