L Brands Chief Wexner Says Epstein ‘Misappropriated Vast Sums’ From Him

August 8, 2019 Updated: August 8, 2019

Leslie Wexner, the billionaire founder and CEO of Victoria’s Secret parent company L Brands, has accused indicted sex offender Jeffrey Epstein of misappropriating over $46 million of his fortune, according to a letter he sent to members of the Wexner Foundation that was reviewed by The Wall Street Journal.

The funds, according to Wexner, went missing when Epstein was serving as his money manager. The details of the alleged missing funds came to light after Wexner severed ties with Epstein in 2007, following allegations of sexual abuse of minors.

Epstein and Wexner had a relationship that spanned about two decades. Epstein’s wealth grew considerably through working with Wexner.

“We discovered that he had misappropriated vast sums of money from me and my family,” Wexner said in the Aug. 7 letter. “This was, frankly, a tremendous shock, even though it clearly pales in comparison to the unthinkable allegations against him now.”

According to tax records, Epstein in January 2008 transferred $46 million worth of investments to a Wexner charitable fund. In the letter, Wexner also noted that the amount was only a portion of the funds that Epstein had allegedly misappropriated.

“All of that money—every dollar of it—was originally Wexner family money,” he wrote in the letter.

Epstein’s lawyer, Martin Weinberg, didn’t respond to a request for comment from The Epoch Times about Wexner’s claim. Wexner’s foundation also didn’t respond to a request for comment regarding the total amount of allegedly misappropriated funds.

In July 1991, Wexner signed a three-page legal document that gave Epstein the power to hire people, sign checks, buy and sell properties, and borrow money on Wexner’s behalf, according to The New York Times. The document stated that Epstein had the “full power and authority to do and perform every act necessary” for Wexner.

In their years working together, Epstein obtained a New York mansion, a private plane, and a luxury estate in Ohio—which were previously owned by Wexner or his companies. Epstein also “drove a wedge” between Wexner and his longtime associates and friends, according to The New York Times.

Court documents allege that Epstein sexually exploited and abused dozens of minor girls at his homes in Manhattan and in Palm Beach, Florida, among other locations.

A tentative trial date for the high-profile case was set for June 2020 at the earliest, by U.S. District Judge Richard Berman during a brief court hearing in a Manhattan federal court.

Criminal Investigation

On Aug. 6, Florida Gov. Ron DeSantis ordered a state criminal probe into the handling of a previous Epstein case. In making the announcement, DeSantis said, “Floridians expect and deserve a full and fair investigation.”

Epstein has been a registered sex offender in Florida since 2008 as part of a non-prosecution agreement he signed. He was sentenced to 13 months in prison that year, as part of the plea deal and was allowed to work from his Palm Beach office.

The investigation will look into the actions of the Palm Beach County Sheriff’s office and the former Palm Beach state attorney, according to the Miami Herald.

DeSantis also said that authorities will “conduct a preliminary inquiry into matters beyond the work release and into other irregularities concerning the case’s disposition.” 

Follow Bowen on Twitter: @BowenXiao3
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