WASHINGTON — The long-time associates tasked with overseeing Jeffrey Epstein’s $630 million estate told congressional investigators they expect to receive “zero” of the millions bequeathed to them, citing a dwindling fortune consumed by legal fees, victim settlements, and complex liquidations.
In recently released depositions before the House Oversight Committee, attorney Darren Indyke and accountant Richard Kahn—co-executors of the estate—provided the most detailed look yet at the financial wreckage left behind by the convicted offender.
A Dwindling Fortune
While Epstein’s 2019 will famously earmarked $50 million for Indyke and $25 million for Kahn, both men testified they have received no salary for their work since his death. Instead, they claimed the bequests were intended to cover statutory “executor fees” they would have otherwise earned.
However, the path to those payments is narrowing. The estate currently holds approximately $127 million in liquid assets, according to probate filings in the U.S. Virgin Islands. This is bolstered by roughly $172 million tied up in investments with Peter Thiel’s Valar Ventures, which may not fully vest until 2026.
Against these assets, the estate faces a staggering “burn rate”:
- Legal & Admin Fees: $5 million to $10 million annually.
- Victim Settlements: A recent $35 million class-action settlement, with multiple individual claims still pending.
- Priority Payouts: Epstein’s former fiancée, Karyna Shuliak, remains first in line for a payout exceeding $100 million.
“I believe that it’s likely that I will receive zero,” Kahn testified, noting that the estate’s obligations will likely eclipse its remaining value.
The “Southern Country” Bank
The depositions also unmasked Epstein’s desperate final attempts to remain financially solvent after being blacklisted by major institutions. Following his 2013 exit from JPMorgan Chase and a 2018 severing by Deutsche Bank, Epstein attempted to launch his own private bank in the U.S. Virgin Islands.
Named Southern Country International, the entity was designed to bypass traditional banking hurdles. Kahn testified that Epstein had begun moving assets into the dormant license shortly before his 2019 arrest.
High-Profile Client List
Kahn further clarified Epstein’s “financial advisor” credentials, naming five primary clients who fueled his wealth through estate-planning and consulting fees:
- Les Wexner (L Brands founder)
- Leon Black (Apollo Global Management co-founder)
- Ariane de Rothschild (Banker)
- Steven Sinofsky (Former Microsoft executive)
- Highbridge Capital Management
Despite their proximity to Epstein’s finances, both Indyke and Kahn maintained they were unaware of his decades-long pattern of abuse. Kahn expressed regret over the “irreparable damage” to his reputation but defended his tenure, claiming his involvement ensured victims were compensated more efficiently than through a court-appointed official.
