- The Victoria’s Solution billionaire Leslie Wexner states the disgraced financier Jeffrey Epstein “misappropriated extensive sums of money” from Wexner’s fortune although serving as his money adviser.
- Wexner was just one of Epstein’s couple recognized purchasers, and observers say Epstein’s achievements could mainly be credited to his decades-extended romantic relationship with the superior-driven billionaire.
- Although the two experienced formerly been explained as “shut own friends,” Wexner final month stated that he “regretted” at any time crossing paths with Epstein and that he “entirely severed” all ties with Epstein 12 decades in the past.
- Epstein was arrested final thirty day period and billed with intercourse trafficking and conspiracy to commit sex trafficking. He has pleaded not responsible. If convicted, he faces up to 45 a long time in prison.
The Victoria’s Mystery billionaire Leslie Wexner states the disgraced financier Jeffrey Epstein “misappropriated large sums of cash” from Wexner’s fortune whilst serving as his monetary adviser.
In a letter to associates of his namesake Wexner Basis, seen by The Wall Avenue Journal, the CEO and founder of L Brands, the mum or dad organization to Victoria’s Key, reported that Epstein experienced “misappropriated large sums of cash from me and my family members.”
“This was, frankly, a tremendous shock, even though it plainly pales in comparison to the unthinkable allegations from him now,” Wexner continued in the letter.
Epstein was arrested last month and billed with sex trafficking and conspiracy to dedicate sexual intercourse trafficking in excess of allegations involving girls as young as 14. He has pleaded not guilty. If convicted, he faces up to 45 a long time in prison.
It is unclear how substantially money is thought to have been mismanaged. In accordance to The Journal, tax data show that Epstein manufactured a $46 million contribution to a Wexner charitable fund in January 2008. In his letter, Wexner claimed this quantity represented a “portion” of the sum he says Epstein mishandled, in accordance to CNBC.
He additional that “every single greenback” of that income originally belonged to the Wexner family members. A consultant for Wexner did not remark to The Journal on no matter whether the “misappropriation” was described to authorities.
Business Insider could not straight away arrive at an lawyer for Epstein for remark.
In accordance to The New York Periods, Wexner gave Epstein energy of attorney in 1991, handing him just about comprehensive management of his economic affairs for additional than a ten years. The ability permitted Epstein to retain the services of people today, sign checks, get and offer homes, and even borrow money on Wexner’s behalf.
Wexner was one particular of Epstein’s couple of known consumers, and observers say Epstein’s decades-extended partnership with the substantial-powered billionaire contributed to his results. Epstein is claimed to have received hundreds of thousands of bucks from Wexner, and he reportedly owned mansions and private planes formerly owned by Wexner or his corporations.
When the two had been described as “shut personal friends” in a 2002 lawsuit, the marriage among them soured following prices of sexual misconduct towards Epstein surfaced. Wexner past thirty day period wrote in a company memo that he “regretted” at any time crossing paths with Epstein and said he “completely severed” all ties with Epstein 12 several years back.
Epstein pleaded guilty to state expenses of soliciting prostitution in June 2008 and registered as a intercourse offender as part of a deal lower with the US Attorney’s Office in Miami. He was sentenced to 18 months in jail but served only 13 months in a non-public wing of the Palm Seaside County Jail, and he was permitted to do the job in an business office 6 times a 7 days.