Short Answer
In 1991, Les Wexner granted Jeffrey Epstein unusually broad power of attorney, giving Epstein the legal authority to act on Wexner’s behalf in virtually all financial and legal matters. Epstein used this authority to acquire the Manhattan townhouse — allegedly transferred to him by Wexner — and reportedly moved tens of millions of dollars through accounts under his control.
In Detail
The Power of Attorney
The 1991 power of attorney document gave Epstein sweeping authority, going far beyond what attorneys typically receive. It granted him the ability to manage and sell assets, borrow money, make gifts, and enter into contracts on Wexner’s behalf. Legal experts who reviewed the document described it as exceptionally broad.
The Manhattan Townhouse
The nine-story, 21,000-square-foot townhouse at 9 East 71st Street in Manhattan — one of the largest private residences in New York City — was originally purchased by Wexner in 1989. By the mid-1990s, it had been transferred to Epstein, reportedly for the nominal sum of $0 or a token amount. Epstein then carried out a $10+ million renovation. The precise circumstances of the transfer were never fully explained by either Wexner or Epstein.
Wexner’s Statements
Wexner has publicly stated that he discovered Epstein had misappropriated “vast sums” from him — a figure estimated in various accounts to be as much as $46 million to $77 million — and that he “deeply regrets” his relationship with Epstein. He has described feeling blindsided by the fraud.
The Mystery of Their Relationship
How Epstein earned Wexner’s unconditional trust remains one of the central mysteries of the case. Epstein apparently convinced Wexner that he had unique financial acumen that could grow the Wexner family’s wealth, and Wexner granted him extraordinary access well before Epstein had established any publicly verifiable track record.