Leslie Wexner, the billionaire behind Victoria’s Secret, stated his former cash supervisor Jeffrey Epstein misappropriated greater than $46 million of his fortune, revealing for the primary time some of the monetary fallout from his relationship with the disgraced financier.
In a letter Wednesday, the founder and chief govt of L Brands Inc. wrote to members of his Wexner Foundation that the lacking funds have been uncovered after Wexner determined in 2007 to sever ties with Epstein. Wexner started the separation course of after allegations towards Epstein surfaced involving sexual abuse of underage women.
“We found that he had misappropriated huge sums of cash from me and my household,” Wexner wrote within the letter, which was reviewed by The Wall Street Journal. “This was, frankly, an incredible shock, though it clearly pales compared to the unthinkable allegations towards him now.”
In January 2008, Epstein transferred $46 million value of investments to a Wexner charitable fund, tax information present. Wexner stated the switch was solely a portion of the funds that his cash supervisor had allegedly misappropriated. “All of that money — every dollar of it — was originally Wexner family money,” he wrote. Last month, Epstein pleaded not responsible to sex-trafficking fees stemming from what federal prosecutors alleged was a yearslong scheme to acquire and sexually abuse dozens of women. He faces as much as 45 years in jail if convicted. Epstein has been denied bail and is in federal custody.