The home of Jeffrey Epstein, a wealthy American businessman who was arrested in 2019 on federal charges related to the sex trafficking of minors in Florida and New York, has sold for nearly $51 million, CNN reports. 

The news outlet says the buyer's identification has not been released at this time.

Funds from the sale will reportedly be transferred to the Epstein Victims' Compensation Program so that new claims can be issued.

CNN previously reported that the independent administrator of the Epstein Victims' Compensation Program (EVCP), Jordy Feldman, suspended claim payouts from the program on February 4 when she said the estate was too low on cash to support it. Feldman said she will lift the suspension once she evaluates the financial situation.

"We are eager to resume issuing compensation offers as soon as possible," Feldman said in a statement to CNN. "Once we have more information about the amount of funds that will be made available to the Program and when, I will decide when we can lift the suspension and get back to full Program operations."

 A magistrate judge in US Virgin Islands Probate Court denied USVI Attorney General Denise George's February motion to freeze the assets on the grounds that the government was previously ruled not to be a party to the Epstein estate matter in probate court, CNN notes.

George filed the motion to freeze the assets, saying that the estate co-executors failed to sufficiently fund the Epstein Victims' Compensation Program, according to court documents.

At 66 years of age, Epstein was found dead in his cell at the Metropolitan Correctional Center in August 2019, where he was awaiting trial.

New York City's chief medical examiner labeled the death as a suicide.