Jeffrey Epstein.
Topline: As Jeffrey Epstein awaits trial on sex trafficking and conspiracy charges, new details on the wide-ranging control he held for decades over billionaire Leslie Wexner’s fortune emerged Thursday, and the two men’s relationship faces new legal scrutiny.
- The New York Times published an investigation Thursday into how Epstein used his relationship with Wexner, the CEO of L Brands, to gain access to wealth and women. The two men met in 1988.
- Epstein may have earned over $200 million from managing Wexner’s wealth. Sources told the Times they were “mystified” as to why Wexner, a respected businessman, would trust Epstein, a college dropout with little financial experience.
- In 1991, Wexner gave Epstein his power of attorney, which meant he had “full power and authority to do and perform every act necessary” for Wexner.
- Besides managing Wexner’s money, Epstein oversaw the construction of the CEO’s yacht, signed his tax returns, hired people and acquired businesses.
- L Brands said Thursday it hired an outside law firm to review any evidence of Epstein’s role within its business. A company spokesperson said Wexner will not participate in any way.
- Wexner, who once called Epstein “a most loyal friend,” said through a spokesperson the two men severed ties over a decade ago. In a July 16 letter to L Brands employees, Wexner wrote that he was unaware of the “illegal activity” Epstein was charged with.
Surprising fact: L Brands is the parent company of Victoria’s Secret. Epstein would reportedly pose as a talent recruiter for the Victoria’s Secret catalog. He allegedly groped model Alicia Arden, then 27, in a 1997 hotel room encounter. By going to police, Arden created one of the earliest-known records of Epstein’s alleged sexual assault of women and underage girls.
Key background: Epstein allegedly ran a sex ring of underage girls for him and his famous and wealthy friends. He has been under scrutiny since a 2007 federal sex crimes indictment in Florida that resulted in a lenient plea deal. The agreement granted him and his anonymous coconspirators immunity and sealed all documents. (A federal judge issued an order in July to unseal documents associated with the case, which could implicate other rich and powerful people.) The Miami Herald’s “Perversion of Justice” investigative series detailed how a federal prosecutor, Alexander Acosta, helped broker—and then seal—the plea deal. Epstein served 13 months in a county jail with 12 hours of work release, six days a week, after conviction on a Florida state prostitution charge. He also registered as a sex offender both in Florida and New York. After his release from county jail, Epstein went free until his July 6 arrest at New Jersey’s Teterboro Airport and was charged with sex trafficking and sex conspiracy. He pleaded not guilty.
