Monday, 19 August, 2019

Billionaire: Epstein misappropriated ‘vast sums’ from wealth

Jeffrey Epstein's second apartments Jeffrey Epstein's second apartments
Russell Knight | 11 August, 2019, 12:46

In a letter to the Wexner Foundation community issued on Wednesday evening, philanthropist Leslie Wexner accused his former friend and personal money manager Jeffrey Epstein of misappropriating "vast sums of money from me and my family" more than 10 years ago.

OH billionaire Leslie Wexner said in a letter Wednesday, Aug. 7, 2019 that he recovered "some of the funds" but severed ties with Epstein in 2007 as sexual abuse allegations first surfaced against him in Florida.

Wexner indicated that some misappropriated money had been repaid, and tax documents indicate that the repayments were $46 million, according to the Wall Street Journal, which first reported the letter. CNN has obtained a copy of the letter, which was not signed by Wexner or dated.

"This was, frankly, a tremendous shock, even though it clearly pales in comparison to the unthinkable allegations against him now", wrote Wexner.

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Business Insider could not immediately reach an attorney for Epstein for comment.

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. Wexner calls the missing funds a "misappropriation", and never directly accuses Epstein of stealing money from the family foundation.

Wexner said he is "embarrassed" and was "deceived" by Epstein.

Wexner, the chief executive of the retail giant L Brands, included the accusation in a 564-word letter he sent on Wednesday to the Wexner Foundation, giving his most detailed account yet of how his life and affairs became intertwined with Epstein, who was arrested last month and charged with sex trafficking involving girls as young as 14. He wrote that he was able to recover some of the embezzled funds through a $46 million contribution that Epstein made to Wexner's YLK Charitable Fund the following year. Wexner said that as he severed the relationship, he discovered Epstein had returned only a portion of the money in the fund. "I know now that my trust in him was grossly misplaced and I deeply regret having ever crossed his path". He was sentenced to 18 months in prison but served only 13 months in a private wing of the Palm Beach County Jail, and he was allowed to work in an office six days a week.

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