Posted on 08/08/2019 7:40:12 AM PDT by bitt
Leslie Wexner, in letter to foundation, said the amount was at least $46 million
Leslie Wexner, the billionaire behind Victoria’s Secret, said his former money manager Jeffrey Epstein misappropriated more than $46 million of his fortune, revealing for the first time some of the financial fallout from his relationship with the disgraced financier.
In a letter Wednesday, the founder and chief executive of L Brands Inc. LB -0.63% wrote to members of his Wexner Foundation that the missing funds were uncovered after Mr. Wexner decided in 2007 to sever ties with Mr. Epstein. Mr. Wexner began the separation process after allegations against Mr. Epstein surfaced involving sexual abuse of underage girls.
“We discovered that he had misappropriated vast sums of money from me and my family,” Mr. Wexner wrote in the letter, which was reviewed by The Wall Street Journal. “This was, frankly, a tremendous shock, even though it clearly pales in comparison to the unthinkable allegations against him now.”
In January 2008, Mr. Epstein transferred $46 million worth of investments to a Wexner charitable fund, tax records show. Mr. Wexner said the transfer was only a portion of the funds that his money manager had allegedly misappropriated. “All of that money—every dollar of it—was originally Wexner family money,” he wrote.
A lawyer for Mr. Epstein couldn’t be reached for comment. A spokesman for Mr. Wexner declined to comment on whether Mr. Wexner reported the matter to authorities.
(Excerpt) Read more at wsj.com ...
Seriously? I don’t cut my friends off until they’ve absconded with at least $50 million.
That’s the least Victoria will lose after customers find out she’s a man. https://www.nytimes.com/2019/08/05/business/victoria-secret-transgender-model.html
You are correct, sir. They don’t use their own money.
Ha...the jokes just make themselves
Retail Billionaire....I guess he made his fortune selling Arizona beach front property and full size replicas of the Brooklyn Bridge
Unfortunately the flying pig farm is no longer....they all flew away.
“”Obama spent $1T on stimulus but where did that money go?””
Not quite a trillion but close enough for government work. The job for accounting for the stimulus money was given to VP Joe Biden. He was really proud that he was finally going to be in charge of something - tee hee! Now he has the chance on the campaign trail to answer that question. Maybe he’ll meet up with President Trump in a debate and the president can ask him that question. We all know and can find online the failed companies that the money went to but wouldn’t we like to hear it from the candidate? That would be worth the price/sacrifice we’d have to pay just to hear it from the man himself.
I thought this all blew up so that somebody could go after a member of the Trump administration for letting Epstein off easy. Wasn't there a resignation?
“”Gaining the world but losing the soil””
Didn’t proof read?
YES.
They didn’t care about taking a lot of their own down or maybe they didn’t know what the repercussions were gonna be.
What’s the world coming to when a pedo perv can’t be trusted.
“I just wonder why epstein finally got in trouble and charged.”
Maybe he was running low on money.
In another 60 days Wexner will be claiming to have never known Epstein.
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