[GRADE A1 — EFTA01266434 (DOJ investigative product, grand jury exhibit)]
The Jeffrey E. Epstein 2017 Trust (EFTA01266434), a 23-page document executed in January 2017, names three trustees: Eva Andersson Dubin, Darren K. Indyke, and Richard D. Kahn. Article II establishes specific bequests upon Epstein's death.
Bequest #3 reads:
"to KARYNA SHULIAK, if she survives me, Ten Million Dollars ($10,000,000), plus an annuity to be purchased by my Trustees for the benefit of KARYNA SHULIAK from a reputable financial institution in the amount of Ten Million Dollars ($10,000,000), which annuity shall be payable monthly for the life of KARYNA SHULIAK with a lump sum in the amount of the then remaining principal balance payable to the estate of KARYNA SHULIAK upon her death."
Total documented bequest in 2017 Trust: $20,000,000 ($10M lump sum + $10M annuity).
This is the largest named individual bequest in the visible portion of the 2017 Trust. Other bequests are partially redacted:
[GRADE B — News reporting (ABC News, Meduza, Fortune Herald, Bloomberg)]
The 1953 Trust — named after the year of Epstein's birth and signed August 8, 2019, two days before his death — reportedly increased Shuliak's bequest fivefold:
Additionally, Shuliak was designated to receive Epstein's real property portfolio: Zorro Ranch (~$27.5M), the Paris apartment (~$10M), the New York townhouse (sold for $51M), and both private islands (Little St. James and Great St. James).
Payment status: No beneficiary has received any distributions. The trust contains an explicit creditor-priority clause: no beneficiary receives payment until all creditors and victim claims are satisfied in full. The estate has been depleted from roughly $630 million to an estimated $120–150 million remaining, after approximately $121 million through the Victims' Compensation Fund (~150 survivors) and $105 million to the U.S. Virgin Islands in settlement.
The executor-beneficiary conflict: Indyke ($50M beneficiary) and Kahn ($25M beneficiary) are simultaneously the co-executors controlling all estate distributions. This dual role — directing distributions from an estate in which they hold $75 million in combined claims — represents an inherent conflict of interest documented in the trust instrument itself.
[GRADE B — Bloomberg, Columbia Spectator, Daily Beast reporting]
Columbia University acknowledged that Shuliak was admitted to its College of Dental Medicine in 2012 through an "irregular" admissions process connected to Epstein's fundraising contacts:
Columbia responded by removing individuals associated with the matter from administrative and volunteer leadership roles.
WHAT THIS SHOWS AND DOES NOT SHOW: The 1953 Trust documents a $100M bequest to a domestic coordinator and $75M combined to the two co-executors. The creditor-priority clause means no distributions have been paid and likely will not be paid in full. The Columbia admission documents how Epstein's infrastructure extended to institutional manipulation on behalf of individuals in his personal orbit. Neither finding establishes criminal conduct by Shuliak.
[GRADE A1 — EFTA01282297 (Deutsche Bank compliance records, DOJ exhibit)]
Document EFTA01282297, titled "Butterfly Trust — Addition of Beneficiaries," lists Karyna Shuliak alongside Darren Indyke as beneficiaries of the Butterfly Trust. The Butterfly Trust was opened at Deutsche Bank on October 9, 2013, with both a checking and money market account (per EFTA01283834). Indyke is listed as the primary contact with signatory rights.
This connects Shuliak directly to the financial structure examined in MOL-04 (The Money Trail). The NYDFS consent order identifies CO-CONSPIRATOR-1, CO-CONSPIRATOR-2, and CO-CONSPIRATOR-3 as Butterfly Trust beneficiaries with $2,650,000 in documented wire transfers. See MOL-01: The Inner Circle for the CO-CONSPIRATOR analysis.
[GRADE A1 — EFTA01285966 (Deutsche Bank statements, DOJ exhibit)]
Deutsche Bank statements (EFTA01285966, EFTA01287414) show wire transfers TO Karyna Shuliak from Epstein-controlled accounts. The February 2016 statement records an "Outgoing Money Trnsf TO ... KARYNA SHULIAK" from a Deutsche Bank Trust Company Americas account. Additional bank records across 358 DugganUSA documents reference Shuliak in the context of money transfers, check payments, and preauthorized debits.
A $20 million bequest to a domestic coordinator — larger than any other named bequest — raises questions about the nature of the employment relationship. However, the bequest itself is a legal instrument executed by Epstein. It documents a financial relationship of extraordinary magnitude but does not, by itself, establish anything beyond that financial relationship.
WHAT THIS SHOWS AND DOES NOT SHOW: The trust document establishes that Epstein designated $20M to Shuliak, making her the largest named individual beneficiary. It does NOT explain the basis for this bequest. The Butterfly Trust beneficiary listing connects Shuliak to the same financial structure used for co-conspirator payments. It does NOT establish that Shuliak was a co-conspirator.