Before Jeffrey Epstein’s finances came under scrutiny, the primary question was straightforward: how did a former schoolteacher with no formal financial credentials become managing billions in assets? The answer, investigators found, flowed primarily through his relationship with Leslie Wexner, the billionaire founder of Limited Brands.
The Power of Attorney
The most remarkable documented aspect of the Wexner-Epstein relationship was a power of attorney granted to Epstein in 1991. The document gave Epstein exceptional authority to act on Wexner’s behalf in financial matters, including the ability to manage assets, conduct transactions, borrow money, and make financial decisions — abilities that effectively placed Epstein in control of substantial portions of Wexner’s estate.
The power of attorney was more expansive than typical financial advisory authority and suggested a degree of trust that has never been fully explained or characterized by Wexner.
Asset Transfers
Available evidence indicates that Wexner transferred multiple major assets to Epstein, including:
- The nine-story Manhattan townhouse (the largest single-family residence in Manhattan)
- The New Mexico ranch
- Deposits into financial accounts
The exact total of assets that moved from Wexner to Epstein has never been fully documented publicly, partly because their financial entanglement was unwound quietly before Epstein’s 2005 investigation.
Wexner’s Claims of Victimization
After Epstein’s 2019 arrest, Wexner released a statement claiming he had discovered that Epstein had “misappropriated vast sums of money” from him, characterizing himself as a victim. Wexner stated that he had severed ties with Epstein in 2007.
Critics noted that Wexner’s claim of victimization was difficult to reconcile with the extraordinary authority he had voluntarily granted Epstein, and with the scale of assets apparently transferred.
The Unexplained Relationship
Investigators and journalists have found no fully satisfying explanation for the degree of trust Wexner placed in Epstein. Theories range from a genuine personal friendship and confidence in Epstein’s financial acumen to the possibility that Epstein possessed leverage over Wexner.
L Brands Connections
Epstein’s connection to Wexner also gave him access to the L Brands/Victoria’s Secret ecosystem, including relationships with modeling industry figures — a connection that overlapped with recruitment aspects of his network.