Overview
The relationship between Leslie Wexnerfounder of L Brands (Victoria’s Secret, Bath & Body Works) and one of America’s wealthiest retailersand Jeffrey Epstein is one of the most consequential and least-explained connections in the entire Epstein story. Epstein managed Wexner’s personal finances for roughly a decade, gained an unlimited power of attorney, received Wexner’s Manhattan mansion, and allegedly misappropriated tens of millions of dollarsall with Wexner’s apparent blessing until the relationship ended around 2007.
The Meeting
Wexner and Epstein reportedly met through an introduction around 1986-1987. One account points to Dalton School trustee connections; another involves Robert Meister of Aon insurance. The precise circumstances have never been publicly confirmed by either party.
What is clear is that within a short period of meeting, Wexner had given Epstein extraordinary access to his financial affairsa trust that financial analysts found difficult to explain through normal client-manager dynamics.
The Financial Arrangement
Epstein’s firm, J. Epstein & Co., took on Wexner as its primary (possibly only) major client. The arrangement was:
- Epstein managed Wexner’s personal assets and those of the Wexner Family Foundation
- Epstein received broad authority to execute transactions on Wexner’s behalf
- A Power of Attorney executed in 1991 gave Epstein near-total financial control
- Epstein received the Manhattan townhouse (valued at ) for nominal or no consideration in 1996
What Wexner Got Out of It
Wexner was known in business circles as socially awkward and focused entirely on his retail empire. Analysts speculate Epstein provided the personal finance management, social navigation, and advisory functions that Wexner sought from someone he trusted personally.
The Misappropriation
A 2019 New York Times investigation and civil discovery documents established that Epstein had misappropriated at least million from Wexner’s accounts. The exact mechanism remains partially unclear, but Epstein used his broad authority to transfer funds to his own entities.
Wexner stated publicly in 2019 that he was “deceived” by Epstein and had no knowledge of Epstein’s criminal activities. He apologized for his “mistakes” in the relationship.