Mr. Epstein portrayed himself as a monetary guru to the rich, though for a few years his chief consumer was Mr. Wexner, the founding father of L Brands, which owns Victoria’s Secret. Mr. Epstein was first publicly accused of participating in intercourse with underage women in 2006, and Mr. Wexner stated he reduce ties with Mr. Epstein on the finish of the next yr. (Mr. Wexner stated final yr that Mr. Epstein had misappropriated “vast sums” from him; Mr. Epstein had returned no less than $100 million to Mr. Wexner, The Times has reported.)
In 2008, Mr. Epstein pleaded responsible in Florida to a state prostitution cost with a minor and served 13 months in a state jail as a part of a plea settlement with federal prosecutors — an association that was stored confidential on the time. He stored a low profile for the following decade, however after an investigation by The Miami Herald drew consideration to his plea deal, federal prosecutors in New York charged Mr. Epstein with intercourse trafficking in July 2019. His dying the following month in a Manhattan jail cell was dominated a suicide.
Mr. Black knew Mr. Epstein for many years — in 1997 he made Mr. Epstein one of many unique trustees of what’s as we speak known as the Debra and Leon Black Foundation — and was amongst the high-profile figures who maintained ties with him following his prostitution arrest. They included Bill Gates, the Microsoft co-founder; Lawrence Summers, the previous president of Harvard; James E. Staley, now the chief govt of Barclays; and the hedge fund supervisor Glenn Dubin and his spouse, Eva.
Mr. Epstein often hosted Mr. Black at his New York mansion, normally assembly him for breakfast or lunch, in line with 4 individuals conversant in their relationship. In 2012, whereas on a household trip within the Caribbean, Mr. Black traveled by yacht to attend a cookout at Mr. Epstein’s personal island residence within the U.S. Virgin Islands, two of the individuals stated.
In 2011, Mr. Epstein’s monetary advisory agency — Financial Trust — joined Mr. Black and members of his household in investing in a small emissions management firm, Environmental Solutions Worldwide, the place two of Mr. Black’s sons function board members. The firm didn’t reply to requests for remark.
According to an archived version of one of Mr. Epstein’s websites, the lads visited Mr. Black’s alma mater, Harvard, collectively. Although the college stopped accepting items from Mr. Epstein after his 2008 plea, in line with a report by the university, Mr. Black had given no less than $5 million to professors and Mr. Epstein’s workers members had “played a role in facilitating the Black donations.”
Business records from the Virgin Islands reviewed by The Times final yr present how Mr. Epstein’s enterprise suffered following his 2008 case. The conviction coincided with the fallout from the monetary disaster, which value Financial Trust $150 million. The firm took in simply $200,000 in payment revenue from 2008 to 2012 earlier than closing down that yr, the information present.