What Is a Power of Attorney?
A power of attorney (POA) is a legal document authorizing one person (the “agent”) to act on behalf of another (the “principal”) in legal, financial, or other matters:
- Limited POA: Authority for specific transactions or circumstances
- General POA: Broad authority across financial and legal matters
- Durable POA: Remains effective if the principal becomes incapacitated
- Springing POA: Activates only under specified conditions
The POA Wexner granted Epstein was effectively a general, broad-authority instrument.
The 1991 POA Document
A 1991 power of attorney document granting Epstein authority over Wexner’s affairs was reviewed in litigation and referenced in court filings. Key provisions reportedly included:
- Authority to execute contracts on Wexner’s behalf
- Authority to transfer assets
- Authority to manage financial accounts
- Authority to hire and fire staff in Wexner’s businesses
- Authority to make real estate decisions
This level of authority exceeds what financial advisers typically receive. It is comparable to the authority given to a trusted family member — not an external adviser.
When It Was Granted
The origin of the POA appears to be in the late 1980s — shortly after Wexner and Epstein established their relationship. It was documented in a 1991 form that reflected authority already in practice.
What Epstein Did With It
The POA enabled Epstein to:
- Execute the transfer of 9 East 71st Street (the Manhattan mansion) to himself
- Manage Wexner’s Cardinal Trust and related entities
- Move money through accounts connected to Wexner’s interests
- Operate as Wexner’s agent in dealings with banks, lawyers, and business counterparties
Wexner’s Post-2019 Position
After Epstein’s 2019 arrest, Wexner stated:
- He had terminated the relationship in 2007
- He claimed Epstein had “misappropriated vast sums” from his foundation
- He expressed horror at the crimes
However, critics noted:
- A general power of attorney cannot be exercised in secret — Wexner would have seen its effects
- The Manhattan mansion transfer was publicly recorded
- Wexner’s claim that he was defrauded is inconsistent with the extraordinary trust level the POA represents
Legal Significance
The POA is legally significant because it:
- Illustrates the extraordinary intimacy of the Wexner-Epstein relationship
- Was the legal mechanism enabling the Manhattan mansion transfer
- Was the foundation of Epstein’s claimed financial management authority
- Creates questions about what Wexner knew about Epstein’s overall activities