The Epstein-Wexner Relationship: Power of Attorney, Wealth, and Unanswered Questions

Overview

For nearly a decade — from approximately 1987 to the late 1990s — Jeffrey Epstein had a financial and professional relationship with Leslie “Les” Wexner, founder and chairman of Limited Brands (later L Brands), the retail giant behind Victoria’s Secret, Bath & Body Works, and other major brands. Wexner was one of the wealthiest people in America.

The relationship resulted in Epstein receiving extraordinary financial benefits and access. Understanding it is essential to understanding where Epstein’s wealth actually came from.

The 1991 Power of Attorney

In 1991, Wexner granted Epstein a sweeping, near-total power of attorney over his personal finances. The document, which became public through later litigation, gave Epstein the ability to:

• Buy and sell assets on Wexner’s behalf
• Manage Wexner’s investments and banking relationships
• Handle real estate transactions
• Make gifts
• Generally act as Wexner’s financial alter ego

This level of authority — given by a billionaire to a personal financial manager with no track record at a major institution — is extraordinary. No credible explanation has been offered for why Wexner granted such sweeping authority to Epstein.

The Manhattan Townhouse

The most concrete financial benefit documented is Epstein’s acquisition of the Manhattan townhouse at 9 East 71st Street — one of the largest private residences in New York City, valued at tens of millions of dollars. The transfer was linked to Wexner. Wexner has acknowledged Epstein managed properties and assets for him but has denied knowledge of Epstein’s crimes.

The Source of Epstein’s Wealth

Epstein claimed to prospective clients that he was a financial manager to billionaires and accepted no clients below $1 billion in wealth. But external audits and financial investigations have found essentially no documentation of a substantial investment management operation. His registered fund structures were extremely thin.

The hypothesis that Epstein’s wealth was substantially derived from Wexner — whether through legitimate transfers, misappropriation through his power of attorney, or other means — has never been definitively investigated or adjudicated.

Wexner’s position is that he discovered Epstein had misappropriated funds and terminated the relationship in the late 1990s. No charges were brought against Epstein specifically regarding Wexner’s finances.

The L Brands / Victoria’s Secret Connection

Jean-Luc Brunel, the French modeling agent connected to Epstein’s trafficking network, also had connections to modeling agencies that supplied models to Victoria’s Secret. The specific nature and significance of these connections has been the subject of reporting but no formal legal findings.

Questions That Remain Unanswered

• How much of Epstein’s wealth was derived from Wexner versus actual clients?
• What exactly did Epstein do with Wexner’s power of attorney?
• Were any Wexner corporate or personal funds used to support Epstein’s properties (and therefore his trafficking operation)?
• Why did it take until the late 1990s for Wexner to discover and terminate the relationship?

A full forensic accounting of the Epstein-Wexner financial relationship has never been publicly completed.