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L Brands’ Les Wexner Claims Jeffrey Epstein Embezzled Over $46 Million

11 August 2019

In 2014, retail mogul Les Wexner and his wife Abigail tour the "Transfigurations" exhibit at the Wexner Center for the Arts in Columbus, Ohio.

L Brands CEO Leslie Wexner is accusing multimillionaire Jeffrey Epstein of misappropriating "vast sums of money" from him and his family, according to a letter to Wexner Foundation members. In his letter, Wexner said this amount represented a "portion" of the sum he says Epstein mishandled, according to CNBC.

"I am embarrassed that, like so many others, I was deceived by Mr Epstein", he wrote in the letter. A representative for Wexner did not comment to The Journal on whether the "misappropriation" was reported to authorities.

He added that he was "sickened" by Epstein's alleged abuse of dozens of underage girls in NY and Florida.

In the letter, Wexner said he learned of the missing funds in late 2007, after he and his family had made a decision to server ties with Epstein.

While the two were described as "close personal friends" in a 2002 lawsuit, the relationship between them soured after charges of sexual misconduct against Epstein surfaced.

Add wrongly taking almost $50 million from billionaire Leslie Wexner to the growing list of allegations facing sex offender, and recently arrested, financier Jeffrey Epstein.

Wexner said he believed he could trust Epstein at first based on "friends who vouched for and recommended him as a knowledgeable financial professional". "Eventually, he took over managing my personal finances". Wexner had, for a time, granted Epstein "power of attorney", essentially giving Epstein full access to the apparel executive's vast fortune.

Wexner was one of Epstein's few known clients, and observers say Epstein's decades-long relationship with the high-powered billionaire contributed to his success.

The relationship faltered in the fall of 2007 when Epstein was accused of preying on underage girls. In 2008, he pleaded guilty to state charges of solicitation of prostitution from a minor and was required to register as a sex offender.

The retail empire that Wexner founded, L Brands Inc., has hired a law firm to investigate ties between the company and Epstein.

"As the story has unfolded further, and the extent of the pain caused by Mr. Epstein continues to grow, I have spent time reflecting and searching for answers as to how this could have happened".

L Brands’ Les Wexner Claims Jeffrey Epstein Embezzled Over $46 Million