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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

Go deeper: Jeffrey Epstein and the utility of fake billions

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  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
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Dan Primack, author of Pro Rata
Updated 4 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
6 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.