IN THE SUPERIOR COURT OF THE VIRGIN ISLANDS DIVISION OF ST. THOMAS & ST. JOHN¶
IN THE MATTER OF THE ESTATE OF JEFFREY E. EPSTEIN,¶
PROBATE NO. ST-19-PB-80¶
Deceased.¶
ACTION FOR TESTATE ADMINISTRATION¶
PERSONAL PROPERTY¶
VERIFIED INVENTORY¹¶
Cash¶
| VALUE² | VOUCHER |
|---|
| First Bank xxxxx2601(Personal)3 | $-0- | 1 |
| First Bank xxxxx5901(Estate) | 6,645,429.00 | 2 |
| Banco Popular xxxxx7567 | 820,210.00 | 3 |
| Escrow Account(Paris)4 | 133,200.00 | 4 |
VALUE¶
| SUBTOTAL | $ 7,598,839.00 |
|---|
| Vehicles Titled in Decedent's Name5 | |||
| • | 2018 Chevrolet Suburban6 | $38,000.00 | 5 |
| • | 2017 Maverick ATV | 8,000.00 | 6 |
| • | 1964 Dune Buggy | 7,000.00 | 7 |
| SUBTOTAL | $ 53,000.00 |
|---|
1 Estimated, pre-appraisal values of entities are exclusive of value of subsidiaries; subsidiaries are separately reflected on this inventory.¶
$ ^{2} $ Values provided are as of 12/31/2019, unless otherwise noted.¶
$ ^{3} $ The entirety of Decedent’s personal account, $8,554,622.64, was transferred into the Estate’s checking account held at First Bank on 10/08/2019.¶
4 The sums held in escrow represent the proceeds from the sale of a 2018 Mercedes Maybach which was located in Paris. The sales price was €120,000.00 Euro. Using the current conversion rate of 1.1, the value in USD is $133,200.00.¶
5 The vehicles titled in the Decedent’s name are located outside of the U.S. Virgin Islands but have been included to ensure consistency with the quarterly accountings, as the proceeds of the sales of these vehicles will be deposited into the Estate checking account.¶
6 The valuation is based upon the current Kelly Blue Book Value.¶
EFTA00076491¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 2¶
VALUE¶
Artwork, Collectibles, Furnishings & Equipment $ ^{7} $ To be determined by appraisal¶
SUBTOTAL¶
VALUE¶
Jewelry & Watches⁸¶
To be determined by appraisal¶
SUBTOTAL¶
| VALUE² | VOUCHER | |
|---|---|---|
| Limited Liability Companies Wholly Owned by Decedent | ||
| • LSJE, LLC | $ 2,641,393.00 | 8 |
| • Freedom Air Petroleum, LLC | 22,512.00 | 9 |
| • Michelle’s Transportation, LLC | 323,907.00 | 10 |
| • L.S.J, LLC | 6,400.00 | 11 |
| • Zorro Management, LLC | -0- | 12 |
| • Neptune, LLC | -0- | 13 |
| • NES, LLC | -0- | 14 |
| • Plan D, LLC¹⁰ | 17,000,000.00 | 15 |
| • JEGE, LLC | -0- | 16 |
| • Hyperion Air, LLC¹¹ | 4,200,000.00 | 17 |
| • Thomas World Air, LLC | 25,000.00 | 18 |
| • LSJ Emergency, LLC | -0- | 19 |
| • Southern Financial, LLC¹² | 176,961,338.00 | 20 |
| • Lyn and Jojo, LLC¹³ | 356,000.00 | 21 |
| • Great St. Jim, LLC | See footnote 14 | 22 |
| SUBTOTAL | $ 201,536,550.00 |
|---|
7 A full inventory and appraisal of the decedent’s artwork, collectibles, furnishings & equipment located in the U.S. Virgin Islands has not yet been completed. Upon completion, an updated inventory with values for these assets will be submitted to the court.¶
8 A full inventory and appraisal of the decedent’s jewelry and watches located in the U.S. Virgin Islands has not yet been completed. Upon completion, an updated inventory with values for these assets will be submitted to the Court.¶
9 The value of the limited liability companies provided below are solely based upon available cash on hand, unless otherwise noted. The following entities hold other assets which must be appraised: Zorro Management, LLC; Neptune, LLC; NES, LLC; JEGE, LLC; LSJE, LLC; Michelle’s Transportation, LLC; Thomas World Air, LLC; and LSJ Emergency, LLC. The value of these entities shall be updated to reflect appraised value upon completion.¶
10 Plan D, LLC holds title to a 2007 Gulfstream Aerospace G-550 with an insurable value of $17,000,000.00. This aircraft will be appraised, and the value of the entity will be updated upon completion of an appraisal of this aircraft.¶
Hyperion Air, LLC holds title to a 2001 Bell 430 helicopter with an insurable value of $1,200,000.00 and a 2008 Sikorsky S76C helicopter with an insurable value of $3,000,000.00. These aircraft will be appraised, and the value of the entity will be updated upon completion of an appraisal of these aircraft.¶
~ Southern Financial, LLC has an estimated value of $176,961,338.00. This entity will be appraised, and an updated value will be provided upon completion.¶
13 Lyn and Jojo, LLC holds title to real property and all appurtenant rights, which for purposes of this inventory has been valued at the underlying real property’s most recent taxed assessed value. The underlying real property and rights will be appraised, and an updated value will be provided upon completion.¶
EFTA00076492¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 3¶
| VALUE | VOUCHER | |
| Corporate Entities Wholly Owned by the Decedent | ||
| • Poplar, Inc. $^{14}$ | $23,392,188.00 | 23 |
| • Laurel, Inc. $^{15}$ | 13,814,238.00 | 24 |
| • Maple, Inc. $^{16}$ | 56,257,200.00 | 25 |
| • Cypress, Inc. $^{17}$ | 17,760,284.00 | 26 |
| • Nautilus, Inc. $^{18}$ | 63,292,637.00 | 27 |
| • Southern Trust Company, Inc. $^{19}$ | 233,611,964.00 | 28 |
| • FT Real Estate, Inc. $^{20}$ | 5,486,046.00 | 29 |
| • Southern Country International, Ltd. $^{21}$ | 499,759.00 | 30 |
| • Haze Trust $^{22}$ | 2,287,231.00 | 31 |
| • SCI JEP $^{23}$ | 9,842,122.00 | 32 |
| SUBTOTAL | $ 426,243,669.00 |
|---|
14 Poplar, Inc. is the sole owner of Great St. Jim, LLC. Great St. Jim LLC holds cash on hand and title to the real property known as Great St. James island and all appurtenant rights, which for purposes of this inventory has been valued at the underlying real property’s most recent tax assessed value of $22,998,600.00. The underlying real property and rights will be appraised and an updated value will be provided upon completion.¶
Laurel, Inc. holds cash on hand and title to real property located at 358 El Brillo Way, Palm Beach, Florida and all appurtenant rights which for purposes of this inventory has been valued at the underlying real property’s most recent tax assessed value of $13,618,230.00. The underlying real property and rights will be appraised, and an updated value will be provided upon completion.¶
16 Maple, Inc. holds cash on hand and title to the real property located at 9 East 71 Street, New York, New York and all appurtenant rights which for purposes of this inventory has been valued at the underlying real property’s most recent tax assessed value $55,861,000.00. The underlying real property and rights will be appraised, and an updated value will be provided upon completion.¶
17 Cypress, Inc. holds cash on hand and title to the real property known as Zorro Ranch in Stanley, New Mexico and all appurtenant rights, which for purposes of this inventory has been valued at the underlying real property’s most recent tax assessed value of $17,703,427.00. The underlying real property and rights will be appraised, and an updated value will be provided upon completion.¶
18 Nautilus, Inc. holds cash on hand and title to the property known as Little St. James island and all appurtenant rights, which for purposes of this inventory has been valued at $63,000,000.00, the underlying property’s estimated cost basis. The underlying real property and rights will be appraised, and an updated value will be provided upon completion.¶
19 Southern Trust Company, Inc. has an estimated value of $233,611,964.00. This entity will be appraised, and an updated value will be provided upon completion.¶
20 FT Real Estate, Inc. has an estimated value of $5,486,046.00. This entity will be appraised, and an updated value will be provided upon completion.¶
Southern Country International, Ltd. has an estimated value of $499,759.00. This entity will be appraised, and an updated value will be provided upon completion.¶
22 Haze Trust has an estimated value of $2,287,231.00. This entity will be appraised, and an updated value will be provided upon completion.¶
23 The assets of SCI JEP included cash on hand and title to property located at 22 Avenue Foch, Paris, France. For purposes of this inventory, the value of the underlying property is estimated at €8,672,823.00, which is based on a valuation previously provided by an independent third party. Using the current conversion rate of 1.11, the value in USD is $9,626,833.00. The underlying property will be appraised, and an updated value will be provided upon completion.¶
EFTA00076493¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 4¶
Other Entities in Which Decedent Held an Ownership Interest¶
| • | IGY-AYH ST. Thomas Holdings, LLC d/b/a American Yacht Harbor(50% Interest)24 | To be determined by appraisal | 33 |
| • | Prytanee,LLC(50% Interest)25 | $700,000.00 | 34 |
| SUBTOTAL | $700,000.00 |
|---|
| Dormant/Inactive Entities Wholly Owned by Decedent | ||
| • | CDE, Inc. | $-0- |
| • | VT&T, LLC26 | -0- |
| • | Little St. Jim, LLC | -0- |
| • | Financial Ballistics, LLC | -0- |
| • | Southern Country Opportunity Fund, LLC | -0- |
| • | Financial Ballistics Trust | -0- |
| • | JSC Interiors, LLC27 | -0- |
| • | FSF, LLC28 | -0- |
| • | Jeepers, Inc.29 | -0- |
| SUBTOTAL | $ -0- |
|---|
TOTAL PERSONAL PROPERTY: $ 636,132,058.00^{30}¶
TOTAL ESTATE PROPERTY: $ 636,132,058.00¶
24 The ownership interest in IGY-AYH St. Thomas Holdings, LLC will be appraised. Upon completion of the appraisal an updated value will be provided.¶
25 The ownership interest in Prytanee, LLC will be appraised. The estimated value provided is based upon internal valuations. Upon completion of the appraisal, an updated value will be provided.¶
26 VT&T, LLC held an FCC license which was terminated after the Decedent’s death. VT&T, LLC will be dissolved.¶
27 The entire balance of the JSC Interiors, LLC bank account was transferred into the Estate checking account on 12/31/2019. JSC Interiors, LLC will be dissolved.¶
28 The entire balance of the FSF, LLC bank account was transferred into the Estate checking account on 12/31/2019. FSF, LLC will be dissolved.¶
29 The entire balance of the Jeepers, Inc. bank account was transferred into the Estate checking account on 12/31/2019. Jeepers, Inc. will be dissolved.¶
30 The inventory reflects a total value of personal property that is $1,335,011.00 greater than the value as of 12/31/2019 included in the first quarterly accounting. This is a result of an increase in value of Thomas World Air of $25,000.00, an increase in value of SCI JEP of $954,011.00 (a result of values in Euros being included in the First Quarterly Accounting rather than values in US Dollars), and the inclusion of Lyn and Jojo, LLC. These increases in value will be reflected on the Amended First Quarterly Accounting to be submitted to the Court.¶
EFTA00076494¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 5¶
Respectfully,¶
Dated: February 28, 2020¶
CHRISTOPHER ALLEN KROBLIN, ESQ.¶
ANDREW W. HEYMANN, ESQ.¶
WILLIAM L. BLUM, ESQ.¶
SHARI N. D’ANDRADE, ESQ.¶
MARJORIE WHALEN, ESQ.¶
EFTA00076495¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 6¶
VERIFICATION OF INVENTORY¶
I, Darren K. Indyke, hereby verify that I have read the foregoing Inventory and that I know the same to be true and accurate to the best of my knowledge.¶
Dated: February 28, 2020¶
STATE/TERRITORY OF Florida¶
COUNTY/DISTRICT OF Palm Beach¶
On this 28th day of February, 2020 before me the undersigned, personally appeared Darren K.¶
On this 28 day of February, 2020 before me the undersigned, personally appeared Darren K. Indyke, known or proven to me to be the person whose name is subscribed to the within instrument and acknowledged under oath that he executed the same for the purposes therein contained.¶
IN WITNESS WHEREOF, I hereunto set my hand and official seal.¶
NOTARY PUBLIC¶
My Commission Expires: 11/21/2023¶
Notary No. GG 933760¶
EFTA00076496¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 7¶
VERIFICATION OF INVENTORY¶
I, Richard D. Kahn, hereby verify that I have read the foregoing Inventory and that I know the same to be true and accurate to the best of my knowledge.¶
Dated: 2/28/2020¶
STATE/TERRITORY OF¶
Richard D. Kahn¶
NEW YORK .¶
COUNTY/DISTRICT OF¶
)ss:¶
NEW YORK .¶
On this 28th day of February 2020, before me the undersigned, personally appeared Richard D.¶
Kahn, known or proven to me to be the person whose name is subscribed to the within instrument and acknowledged under oath that he executed the same for the purposes therein contained.¶
IN WITNESS WHEREOF, I hereunto set my hand and official seal.¶
NOTARY PUBLIC¶
My Commission Expires:¶
Notary No.¶
NURALLAH NAZERALI¶
Notary Public, State of New York¶
No 01NA6227598¶
Qualified In New York County¶
Term Expires September 7, 2014¶
EFTA00076497¶
Estate of Jeffrey E. Epstein¶
Verified Inventory¶
Probate No. ST-19-PB-80 Page No. 8¶
CERTIFICATE OF SERVICE¶
I HEREBY CERTIFY that on this 28th day of February 2020, I caused a true and exact copy of the foregoing Verified Inventory to be served upon:¶
Via Electronic Mail by Agreement of the Parties:¶
| John H. Benham, Esq. | A. Jeffrey Weiss, Esq. |
|---|---|
| Law Office of John H. Benham, P.C. | A.J. Weiss & Associates |
| Douglas B. Chanco, Esq. | Sean Foster, Esq. |
|---|---|
| ChancoSchiffer P.C. | Marjorie Rawls Roberts, P.C. |
| Richard Bourne-Vanneck, Esq. | Kevin F. D’Armour |
|---|---|
| Law Offices of Richard Bourne-Vanneck | Gaylin Vogel, Esq. |
| John K. Dema | Melody D. Westfall, Esq. |¶
Via First-Class Mail:¶
Denise N. George, Esq.¶
Attorney General¶
Chief, Civil Division¶
Virgin Islands Department of Justice¶
Shanna Betz¶
EFTA00076498¶
| Number | Decimal Number | Ceramic Number | Decimal Number | Ceramic Number | ||
|---|---|---|---|---|---|---|
| .00 | .1 | .6554555.44 | .00 | .00 | ||
| 8,554,555.44 | 0 | .00 | 1 | 8554555.44 | .00 | .00 |
CHECKING ACCOUNT TRANSACTIONS OTHER DEBITS DATE…AMOUNT…DESCRIPTION¶
10/08 8,554,555.44 CLOSING TRANSACTION¶
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- OVERDRAFT AND RETURN ITEMS FRES SUMMARY* * * * * * * * * TOTAL OVERDRAFT FRES/ THIS PERIOD 0.00 TOTAL OVERDRAFT FRES/ YEAR TO DATE 0.00
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TOTAL RETURN ITEMS FRES/ THIS PERIOD 0.00 TOTAL RETURN ITEMS FRES/ YEAR TO DATE 20.00¶
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- DAILY BALANCE INFORMATION * * * * * * * * * * * DATE…BALANCE DATE…BALANCE DATE…BALANCE 09/30 8,554,555.44 10/08 .00
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IF YOU FORGOT OR WANT TO CHANGE YOUR VISA DEBIT PIN CALL ON AND SELECT THE PIN OF YOUR PREFERENCE. IT’S EASY. CALL TODAY 787.725.2511 OR 1.866.695.2511.¶
80C8B888-888-B001-4988-4FFEF003D-850-861-82E0-871-¶