Executors of convicted sex offender Jeffrey Epstein’s estate have been accused by authorities of funneling about $13 million of the disgraced financier’s money to a trust that could lead to payouts for the two men.
According to authorities in the U.S. Virgin Islands, Darren Indyke and Richard Kahn, both executors of Epstein’s estate, could receive payouts linked to the Butterfly Trust, an investment tool set up almost ten years ago by the accused sex trafficker.
“The government discovered that substantial funds kept secret from the government were transferred for the benefit of the coexecutors in an apparent effort to enrich themselves and shelter these assets from recovery,” said a filing from the attorney general for the Virgin Islands Denise George.
Almost a year after Epstein was found dead in his New York City jail cell and authorities ruled his death a suicide, $13 million was transferred to the Butterfly Trust in April 2020.
This transfer came after one Epstein investment was liquidated, and then some of it was transferred to other holdings from the Butterfly Trust, according to The New York Times. Two of the entities that were transferred money were tied to the executors.
Epstein estate lawyer Daniel Weiner denied that the allegations against Indyke and Kahn were true and that both “categorically reject the baseless assertions of wrongdoing made against them.”
“The 2013 Butterfly Trust mentioned in today’s filing by Ms. George has nothing whatsoever to do with Mr. Epstein’s estate or any funds available to it,” he said.
New York bank regulators have stated that Epstein utilized the Butterfly Trust to pay individuals linked to his grooming of young girls for sexual abuse.