$100 million repayment, stolen millions, and a House subpoena: Les Wexner & Epstein ties face new scrutiny
Leslie Wexner at the Wexner Center for the Arts in Columbus, Ohio, in 2014. Image Credit: Jay LaPrete / AP file
Ohio billionaire Les Wexner, the founder of Victoria’s Secret and L Brands, is facing renewed scrutiny following fresh disclosures linking him to Jeffrey Epstein, including confirmation of a $100 million repayment and a scheduled US House deposition on February 18.
The revelations, emerging from newly released federal documents and recent governance-risk reporting, have reignited global attention on Wexner’s decades-long financial relationship with Epstein and raised serious questions around oversight, accountability, and reputational risk for institutions tied to the billionaire.
Federal Memo Details Alleged Theft of Hundreds of Millions
At the center of the renewed attention is an 86-page Justice Department memorandum, released as part of a massive Epstein document dump ordered by Congress. The memo states that Wexner claimed Epstein stole or misappropriated several hundred million dollars over many years while managing his personal finances.
According to the document, Epstein gradually gained near-total control over Wexner’s finances, eventually holding power of attorney beginning in 1991. This authority allowed Epstein to buy and sell real estate, aircraft, and other assets on Wexner’s behalf, often, the memo alleges, to Epstein’s own benefit.
Discounted Properties and the $100 Million Repayment
The federal memo outlines how Epstein allegedly sold himself a Manhattan mansion and a private jet previously owned by Wexner at deeply discounted prices. The arrangement remained largely unchecked until 2007, when Wexner’s wife reviewed the family finances amid Epstein’s mounting legal troubles.
That review, according to the memo, revealed extensive misappropriation. Rather than pursuing public litigation, Wexner withdrew Epstein’s power of attorney and entered private negotiations, resulting in Epstein agreeing to repay $100 million, which he reportedly did in January 2008.
The Justice Department memo notes that this misconduct, along with fees Epstein paid himself, appears to account for virtually all of Epstein’s personal wealth.
House Oversight Committee Subpoena Raises Stakes
The issue has moved beyond historical disclosure into active political scrutiny. The US House Committee on Oversight and Government Reform has subpoenaed Wexner to testify on February 18, signaling that lawmakers are seeking clarity on Epstein’s finances, influence networks, and the effectiveness of safeguards around ultra-wealthy donors.
Governance analysts say the deposition could introduce new documents, communications, or institutional links into the public record, potentially widening reputational exposure well beyond Wexner himself.
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Wexner Denies Knowledge of Epstein’s Crimes
According to the federal memo, Wexner’s attorneys told prosecutors that he had no knowledge of Epstein’s alleged sex trafficking activities or abuse of young women. Wexner reportedly severed all ties with Epstein in 2007 and claims he never spoke to or saw him again afterward.
The memo also addresses a redacted allegation from an Epstein victim referencing the Wexners, stating that Wexner’s legal team denied any awareness and that the family’s security personnel reported no incidents on their property.
Governance and ESG Fallout Extends Beyond the U.S.
Beyond legal questions, the disclosures are fueling renewed ESG and governance risk assessments, particularly among UK and international institutions connected to philanthropy, endowments, charities, and investment portfolios tied to Wexner-linked entities.
Analysts warn that reputational risk often spreads through boards, donors, trustees, advisers, and service providers, making proactive disclosure and documentation critical. With the Epstein Files continuing to surface new details, institutions are reassessing donor policies, naming rights, and historical funding relationships.
Why the Les Wexner Story Still Matters
Though Epstein died in federal custody in 2019, the ongoing release of documents ensures the story remains a live issue, not just about criminal conduct, but about power, financial control, and governance failures at the highest levels of wealth.
For investors, charities, universities, and regulators, the Les Wexner case represents a stress test for transparency, highlighting how unchecked authority and private settlements can create long-lasting reputational consequences.
FAQ
Who is Les Wexner?
Les Wexner is an Ohio-based billionaire and founder of Victoria’s Secret and L Brands, long considered one of the most influential figures in global retail and philanthropy.
What did the Epstein documents reveal about Wexner?
Newly released federal documents state that Wexner claimed Jeffrey Epstein stole or misappropriated several hundred million dollars while managing his finances.
What is the $100 million Epstein repayment?
According to the Justice Department memo, Epstein agreed to repay $100 million to Wexner in 2008 following private negotiations over alleged theft.
Why is Les Wexner being subpoenaed?
The US House Oversight Committee has subpoenaed Wexner to testify on February 18, seeking clarity on Epstein’s finances, influence, and institutional oversight failures.
Did Wexner know about Epstein’s crimes?
Wexner has denied any knowledge of Epstein’s alleged sex trafficking or abuse, according to statements provided by his attorneys to federal prosecutors.
Why does this matter for investors and institutions?
The case raises major governance, ESG, and reputational risk concerns for charities, universities, and funds linked to donors or boards associated with Wexner or Epstein.
Could more information still emerge?
Yes. Ongoing releases from the Epstein Files and the upcoming congressional deposition could introduce new documents, names, or institutional connections.