Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

It was just a clerical error: That's the message from Leon Black, CEO of Apollo Investment Group, after federal tax filings showed that Jeffrey Epstein served as a director of Black's family foundation for six years after pleading guilty to a state charge of soliciting prostitution from underage girls.

Driving the news: The Black Family Foundation submitted Form 990-PFs for calendar years 2007–2012 that included Epstein as a member of its executive committee. 2007 was the year that Epstein struck his highly-controversial plea deal with Alex Acosta, then Miami's lead federal prosecutor and now the U.S. Secretary of Labor.

  • For the first 24 hours or so after the filings were first uncovered, neither Apollo nor Black provided public comment.
  • Then, late yesterday afternoon, media outlets (including Axios) were provided with a January 2015 document, apparently signed by both Black and Epstein, saying that Epstein resigned from the Foundation in July 2007 (several months before the plea was finalized). It also says that a copy of the actual resignation could not be found, and that his continued inclusion on tax forms "was an oversight by the Foundation's tax accountants which was not noticed until 2013."

Black's personal spokesperson declined to answer follow-up questions, including what exactly Epstein did for the Foundation or if he did other work for Black. He's generally referenced as a wealth manager, but there are lots of oddities in that background, with some suggesting he was more of a tax strategist.

  • Black's spokesperson also declined to explain why the 2015 document was created in the first place, as it appears to have been attached to another, undisclosed document.

The bottom line: This is, at best, a very bad look for one of private equity's top power brokers. Particularly given that this isn't the first time that Black's judgment in picking business associates has been objectively dubious (see Villalobos, Alfred). It's also unlikely to be the last well-known name tied to Epstein, now indicted on federal sex trafficking charges, as so far Black is one of just two business clients to have been publicly identified.

Go deeper ... Pro Rata Podcast: Jeffrey Epstein's powerful pals

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Ipsos poll: COVID trick-or-treat.
  2. World: Greece tightens coronavirus restrictions as Europe cases spike.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: Fully at-home rapid COVID test to move forward.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."

Trump's legacy is shaped by his narrow interests

Illustration: Annelise Capossela/Axios

President Trump's policy legacy is as much defined by what he's ignored as by what he's involved himself in.

The big picture: Over the past four years, Trump has interested himself in only a slim slice of the government he leads. Outside of trade, immigration, a personal war against the "Deep State" and the hot foreign policy issue of the moment, Trump has left many of his Cabinet secretaries to work without interruption, let alone direction.

Bryan Walsh, author of Future
5 hours ago - Technology

AI and automation are creating a hybrid workforce

Illustration: Annelise Capossela/Axios

AI and automation are receiving a boost during the coronavirus pandemic that in the short term is creating a new hybrid workforce rather than destroying jobs outright.

The big picture: While the forces of automation and AI will eliminate some jobs and create some new ones, the vast majority will remain but be dramatically changed. The challenge for employers will be ensuring workforces are ready for the effects of technology.