A recently released memorandum from the Department of Justice (DOJ) reveals that Jeffrey Epstein repaid $100 million to Les and Abigail Wexner in 2008 following a significant falling out related to financial misappropriation. The document, titled “Investigation into potential co-conspirators of Jeffrey Epstein,” sheds light on the intricate financial dealings between Epstein and the billionaire retail magnate.
According to the memo, which was among millions of documents released by the DOJ, Wexner’s legal team alleges that Epstein misappropriated hundreds of millions of dollars over their partnership, which began in the 1980s. Epstein had been managing Wexner’s fortune and possessed power of attorney over his finances until 2007, when he informed Wexner that he was facing legal issues due to his “overly aggressive” interactions with law enforcement.
As Wexner’s wife, Abigail, began to investigate their financial accounts, she discovered financial irregularities, including Epstein’s practice of buying property on behalf of the Wexners and selling it to himself at drastically lower prices. This prompted the Wexners to sever ties with Epstein, who reportedly attempted to convince Abigail that she lacked financial understanding, claiming he had the family’s best interests at heart.
Instead of taking public action, the Wexners opted for a private settlement, wherein Epstein returned $100 million to them in January 2008. However, the exact amount Epstein may have stolen from the Wexners remains uncertain. The memo suggests that the bulk of Epstein’s wealth was derived from his association with them, although he was also involved in business ventures with other influential figures, such as Leon Black from Apollo Global Management.
Additionally, Epstein previously donated $47 million to the YLK Charitable Fund, established by Abigail Wexner, which was later shut down with remaining funds transferred to a Wexner charity.
This document is not the first to mention Wexner in connection with Epstein. Previous communications from the FBI referred to Wexner as a potential co-conspirator, although Wexner’s representatives have repeatedly maintained that he was neither a target nor involved in any misconduct, and he cooperated fully with investigations.
Wexner is scheduled to testify before the House Oversight Committee on February 18, as a subpoena for his testimony was issued in January. His legal team continues to assert that he was unaware of Epstein’s illicit activities, a claim supported by some legal experts.
The evolving narrative surrounding the Epstein-Wexner relationship highlights the complexity of financial management and the far-reaching implications of involvement with individuals tied to serious criminal conduct.