Victoria's Secret billionaire says Jeffrey Epstein stole $46m of his money

Victoria's Secret billionaire says Jeffrey Epstein stole $46m of his money

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

Wexner asked Epstein to step back from his roles as both manager of his personal finances and trustee of the Wexner Foundation, though Epstein has denied any improprieties. He faces up to 45 years in prison if convicted and is now in detention, denied bail. "This was, frankly, a tremendous shock, even though it clearly pales in comparison to the unthinkable allegations against him now".

Epstein was arrested last month and charged with sex trafficking and conspiracy to commit sex trafficking over allegations involving girls as young as 14.

The letter was first reported by The Wall Street Journal, which put the amount of misappropriated money at more than $46 million.

Wexner used his letter on on Wednesday, addressed to the "Wexner Foundation Community" and distributed to the press, to cast himself as an unwitting victim of his former adviser's financial impropriety, after weeks of questions about his deep ties to Epstein.

"We discovered that he had misappropriated vast sums of money from me and my family", Wexner said. The Journal has previously reported on how important Wexner was to Epstein's success as a financier. His lawyer did not respond to a request for comment.

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NEW YORK (AP) - The retail titan behind Victoria's Secret has accused the financier Jeffrey Epstein of misappropriating "vast sums" of his fortune while managing his personal finances more than a decade ago.

That trust included a so-called power of attorney, which enabled Epstein to hire people, sign cheques, buy and sell properties, and borrow money - all on Wexner's behalf. It was through Wexner that Epstein acquired his seven-story Manhattan mansion near Central Park.

They met in the mid-1980s, forging an increasingly close relationship that lasted roughly 20 years, according to the letter.

Last month, Epstein pleaded not guilty in NY to new sex-trafficking charges.

The latest investigation, reports the Miami Herald, is likely to focus on the lenient work privileges Epstein enjoyed while serving a 13-month sentence for soliciting prostitution from underage girls, the product of a controversial 2008 deal with federal authorities.

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