A Partnership That Handed Epstein Vast Control (Image Credits: S.abcnews.com)
New Albany, Ohio – Retail magnate Les Wexner prepared for a closed-door deposition on Wednesday as members of the House Oversight Committee probed his long-standing relationship with Jeffrey Epstein.[1][2]
A Partnership That Handed Epstein Vast Control
Wexner first encountered Epstein in the 1980s through a mutual acquaintance, shortly after acquiring Victoria’s Secret.[3] The financier quickly rose to manage Wexner’s personal fortune, gaining extraordinary influence over the billionaire’s assets. By 1991, Wexner granted Epstein power of attorney and appointed him as a trustee for his children’s trust.[3]
Epstein’s role extended into Wexner’s business ventures. In 1998, records listed him as co-president of the New Albany Company, though associates described his involvement as peripheral.[3] Wexner also sold his Manhattan townhouse at 9 East 71st Street to Epstein in 1998 for $20 million, a property later linked to Epstein’s alleged abuses.[2] This arrangement fueled speculation about the depth of their alliance, which spanned professional and personal spheres for over two decades.
Millions Misappropriated and Ties Cut Abruptly
Concerns surfaced in 2007 when Epstein faced early legal troubles in Florida. Wexner later revealed that Epstein had misappropriated vast sums – estimated at around $200 million – from him and his family.[3][2] Epstein had siphoned funds gradually, often through property deals where he purchased assets on Wexner’s behalf and resold them to himself at undervalued prices.
In a 2019 letter posted on his foundation’s website, Wexner explained the fallout. “As the allegations against Mr. Epstein in Florida were emerging, he vehemently denied them. But by early fall 2007, it was agreed that he should step back from the management of our personal finances. In that process, we discovered that he had misappropriated vast sums of money from me and my family,” he wrote. “With his credibility and our trust in him destroyed, we immediately severed ties with him. We were able to recover some of the funds.”[2] Wexner has consistently denied any awareness of Epstein’s criminal activities and cooperated with federal investigators, who described him as neither a co-conspirator nor a target.[1]
House Oversight’s Broader Epstein Inquiry
The committee’s session marked the fourth in its examination of the federal response to Epstein’s crimes. Previous depositions included former Attorney General Bill Barr, ex-Labor Secretary Alex Acosta, and Ghislaine Maxwell.[2] Lawmakers aimed to uncover how Epstein amassed his wealth, with Wexner’s testimony expected to shed light on that mystery.
Scheduled for 10 a.m. at Wexner’s New Albany residence, the event drew at least some of the panel’s 46 members, including chairs from both parties.[1] A bipartisan group of Democrats planned a news conference afterward. The probe gained momentum from recently unredacted files, where Wexner’s name appeared thousands of times, including in a 2019 FBI document listing him among alleged co-conspirators – though with limited supporting evidence.[3]
- 1980s: Initial meeting and Epstein hired as advisor.
- 1991: Power of attorney granted.
- 1998: Townhouse sale and company role.
- 2007: Theft discovered; ties severed.
- 2019: Wexner publicly addresses scandal.
- 2026: House deposition.
Political Donor Under Spotlight
Wexner, Ohio’s richest resident and L Brands founder, has funneled millions into politics, favoring Republicans but supporting some Democrats.[4] Recent contributions included $250,000 to the National Republican Senatorial Committee and sums to state figures like Sen. Bernie Moreno.
His Epstein association has cast a shadow, prompting questions about influence and accountability. While no charges have emerged against Wexner, the deposition underscored ongoing demands for transparency in Epstein’s network.[5]
Key Takeaways
- Wexner’s financial trust in Epstein enabled massive theft but ended before Epstein’s 2019 arrest.
- The House probe targets government handling of Epstein, not Wexner directly.
- Thousands of file mentions highlight persistent scrutiny of their ties.
As lawmakers departed Ohio, the testimony promised to fuel debates on elite connections to Epstein’s downfall. Revelations could reshape narratives around one of the scandal’s most enigmatic figures. What insights will emerge from this encounter?
