Economy

L Brands’ Les Wexner Claims Jeffrey Epstein Embezzled Over $46 Million

L Brands’ Les Wexner Claims Jeffrey Epstein Embezzled Over $46 Million

Epstein's lawyer, Martin Weinberg, didn't respond to a request for comment from The Epoch Times about Wexner's claim.

It is unclear whether Mr Wexner reported the allegations to law enforcement.

The letter came after news reports detailing the close relationship between the two men.

What did Wexner, a billionaire who built a fashion empire from scratch, see in Epstein, a college dropout with no obvious background as a money manager or tax expert?

Addressed to the "Wexner Foundation Community", the letter portrays the L Brands Inc. founder as being in the dark about Epstein's alleged wrongdoing.

Epstein reportedly used his ties to Wexner and Victoria's Secret to lure women to hotel rooms and his NY mansion, which was once owned by Wexner.

Add wrongly taking almost $50 million from billionaire Leslie Wexner to the growing list of allegations facing sex offender, and recently arrested, financier Jeffrey Epstein.

Mr Wexner said he believed he could trust Epstein at first based on "friends who vouched for and recommended him as a knowledgeable financial professional". All of that money - every dollar of it - was originally Wexner family money.

More news: Actor Danny Trejo helps save boy trapped in auto

"Here in this particular case involving Wexner and Epstein, it certainly seems like none of these steps were taken", Tenenbaum says.

During Wexner's almost 20-year relationship with his financial advisor, Epstein was given power of attorney and was reportedly involved in the model-selection process for Victoria's Secret.

"We discovered that he had misappropriated vast sums of money from me and my family", Wexner said in the August 7 letter.

Last month, Mr. Epstein pleaded not guilty to sex-trafficking counts stemming from what federal prosecutors alleged was a yearslong scheme to procure and sexually abuse dozens of girls. Epstein also served as trustee of several trusts, foundations and corporations tied to Wexner. Within a few years, he was also a director of the Wexner Foundation and Wexner Heritage Foundation, and was involved in developing the town of New Albany outside Columbus, Ohio, where Wexner lives.

Epstein pleaded guilty to state charges of soliciting prostitution in June 2008 and registered as a sex offender as part of a deal cut with the US Attorney's Office in Miami.

Wexner's allegations focus on $46m of investments in a Wexner charitable fund controlled by Epstein.

Wexner has faced intense scrutiny for his long business relationship with Epstein, who was convicted of an earlier sex crime in 2008 and was arrested last month on sex trafficking charges.


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