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You are here: English BoingBoing ibag Billionaire who gave Jeffrey Epstein power of attorney in order to manage his finances says Epstein stole "vast sums of money"

Billionaire who gave Jeffrey Epstein power of attorney in order to manage his finances says Epstein stole "vast sums of money"

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One of the enduring mysteries of the super-wealthy pedophile Jeffrey Epstein is where, exactly, he got his money: a former math teacher, he styled himself a personal financial manager catering exclusively to billionaires, but had few-to-no clients, and did not own or trade assets that anyone could locate. That said, there is one client of record for Epstein's "money-management" business: Leslie Wexner, the billionaire CEO of the company that owns Victoria's Secret and Bed, Bath and Beyond, whose finances Epstein managed for many years. Wexner broke ties with Epstein after he was indicted on prostitution charges, but has said little since. Now, in a 564-word letter to the trustees of his family foundation, Wexner revealed that Epstein had power of attorney over his finances, and that he used that power to "misappropriate vast sums of money" from Wexner, only some of which Wexner was able to recover. Wexner says he had no knowledge of Epstein's sex-trafficking enterprise -- which was generally considered to be an open secret, with Epstein's wealthy friends calling his private jet the "Lolita Express" -- prior to the charges. Wexner detailed how Epstein transferred $21.2m from various Wexner family charities and to a charity that Epstein controlled called COUQ. Wexner said that Epstein eventually transferred $46m worth of securities and a property in the Virgin Islands to a charity controlled by Wexner's wife, which Wexner said was a way to repay funds misappropriated by Epstein from Wexner family foundation accounts. Epstein reportedly exploited his connection with Wexner to procure young girls for sex, representing himself as a Victoria's Secret modelling agent. Read the rest

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