The 2019 Statement
Following Epstein’s July 2019 re-arrest, Leslie Wexner wrote a letter to the Wexner Foundation board stating that he had ‘severed ties’ with Epstein ‘approximately twelve years ago’ (around 2007) after discovering Epstein ‘misappropriated’ funds.
The Acknowledgment of Misappropriation
Wexner’s statement was significant in acknowledging that Epstein had misappropriated funds from him. The amount was reportedly approximately million, which Wexner characterized as theft. No criminal charges were ever filed against Epstein for this misappropriation.
What Was Not Explained
The statement did not explain the full scope of the relationship: how a man with no documented investment background was given power of attorney over Wexner’s affairs, how Epstein came to live in a Wexner-owned Manhattan mansion, or what relationship they had throughout the 1990s and 2000s.
Shareholder and Reputational Pressure
Wexner and L Brands faced shareholder and customer pressure regarding the Epstein association. Wexner announced in 2020 that he and his wife were stepping back from L Brands leadership.
The Unanswered Questions
The most significant unanswered question about the Wexner-Epstein relationship remains: how Epstein first came to gather enough Wexner trust to be granted extraordinary financial power, and what the nature of that early relationship truly was.