The Document
In 1991, Leslie Wexner—founder of The Limited Stores and L Brands, then one of the wealthiest people in America—executed a power of attorney in favor of Jeffrey Epstein. The document granted Epstein authority to manage Wexner’s investments, make purchases, enter into contracts, hire employees, and generally act on Wexner’s behalf with minimal oversight. Legal experts who later reviewed the document characterized it as exceptionally broad, describing it as among the widest grant of authority over another person’s financial affairs that attorneys had encountered in private practice.
Context of the Relationship
Wexner and Epstein met in the mid-1980s through mutual acquaintances in New York financial circles. Epstein reportedly impressed Wexner with financial acumen and personal charm. By the late 1980s, Epstein was serving as financial advisor to Wexner and reportedly managing a significant portion of Wexner’s personal wealth. The 1991 power of attorney formalized an arrangement that had, in practice, already been operating for several years.
What Epstein Did With the Authority
Prosecutors and investigative reporters documented that Epstein used his authority over Wexner’s affairs to advance his own position and interests. Most notably, Wexner had purchased the Manhattan townhouse at 9 East 71st Street in 1989 as a possible New York residence that was never fully used. Epstein arranged a transfer of the property to himself—a transaction Wexner later said he was either unaware of or had not fully understood. Similarly, Epstein is believed to have obtained access to Wexner’s corporate jet fleet and other resources under the power of attorney arrangement.
Wexner’s Later Account
After Epstein’s 2019 arrest, Wexner issued a public statement acknowledging a “personal betrayal” and claiming that Epstein had misappropriated “vast sums” of money from him over the years. Wexner said he had severed ties with Epstein around 2007. He estimated that Epstein had stolen “more than $46 million.” Critics noted that the power of attorney arrangement Wexner himself established made such transfers possible, raising questions about the degree to which Wexner was truly unaware of what was occurring or chose not to investigate.
Financial Investigators’ Assessment
The records of when the Epstein-Wexner financial relationship began to unwind are incomplete. Wexner was not charged with any crime, and no public evidence has emerged directly implicating him in Epstein’s trafficking activities. However, independent financial investigators and congressional investigators have noted that the scale of the power of attorney, and the duration over which it operated, raises unresolved questions. The full scope of transfers from Wexner to Epstein or through Epstein’s controlled entities has not been publicly documented.
Significance
The Wexner power of attorney is significant because it helps explain how Epstein, a man with an opaque background in finance and no verifiable list of institutional clients, amassed the extraordinary wealth that funded his properties, islands, aircraft, and lifestyle. The document is a key piece of the financial puzzle at the core of understanding how Epstein’s empire was constructed.