Aug 8, 2019

Leslie Wexner claims Epstein misappropriated $46M from him: Reports

Jeffrey Epstein sits on a sofa.

Financier Jeffrey Epstein. Photo: Rick Friedman/Getty Images

L Brands founder and chairman Les Wexner accused his disgraced former money manager Jeffrey Epstein Wednesday of misappropriating more than $46 million of his fortune, the Wall Street Journal first reported.

Why it matters: Per the WSJ, the allegations by Wexner that Epstein "misappropriated vast sums of money from me and my family" reveal for the first time some of the financial fallout from his relationship with the registered sex offender, who's under indictment for alleged child sex trafficking.

The big picture: The New York Times reports that Wexner, the billionaire behind Victoria's Secret, said in a letter to Wexner Foundation members that he discovered money was missing after cutting ties with Epstein in 2007 — a year after the financier was charged with multiple counts of molestation and unlawful sexual activity with a minor (Epstein pleaded guilty in 2008 to lesser charges after reaching a sweetheart deal with prosecutors.).

"It was agreed that he should step back from the management of our personal finances. In that process, we discovered that he had misappropriated vast sums of money from me and my family. This was, frankly, a tremendous shock, even though it clearly pales in comparison to the unthinkable allegations against him now."
— Wexner's letter to the foundation

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