Wexner Regrets Paths Crossed -- WSJ
July 16 2019 - 3:02AM
Dow Jones News
By Khadeeja Safdar
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (July 16, 2019).
L Brands Inc. founder and longtime Chief Executive Leslie Wexner
said he wasn't aware of his former money manager Jeffrey Epstein's
alleged criminal behavior, breaking his silence on the matter to
say that his "heart goes out to each and every person who has been
hurt."
"I would never have guessed that a person I employed more than a
decade ago could have caused such pain to so many people," Mr.
Wexner wrote in a memo Monday to employees of his retail company,
which owns Victoria's Secret. "I have searched my
soul...reflected...and regretted that my path ever crossed
his."
Mr. Epstein was indicted in New York on federal sex-trafficking
charges stemming from an alleged scheme to exploit underage girls.
Federal prosecutors charged him with two counts related to sex
trafficking of minors, which together carry a maximum sentence of
45 years in prison if he is convicted.
Mr. Epstein pleaded not guilty in the case. In a motion for
bail, Mr. Epstein's lawyer said that his client had complied with
the requirements of the nonprosecution deal he reached with federal
prosecutors in 2007 in which he admitted to two
prostitution-related state charges in exchange for prosecutors
promising not to charge him federally.
Mr. Epstein's two-decade relationship with Mr. Wexner, which
extended into the 81-year-old's retail companies, charities and
personal life, became crucial to Mr. Epstein's eventual wealth and
prominence, The Wall Street Journal has reported.
In an affidavit filed in April as part of a defamation lawsuit,
one of Mr. Epstein's alleged victims said she was sexually
assaulted by Mr. Epstein and an associate in Mr. Wexner's home.
Mr. Wexner said he severed all ties with Mr. Epstein nearly 12
years ago, and "I would not have continued to work with any
individual capable of such egregious, sickening behavior as has
been reported about him."
Though Mr. Wexner employed Mr. Epstein as his personal money
manager, his ties sometimes spilled over into his business. Some
former executives said Mr. Epstein tried to offer his input on
which women to select as Victoria's Secret models. The company also
sold Mr. Epstein an airplane for $10 million, according to a person
familiar with the matter.
In Monday's memo, Mr. Wexner said Mr. Epstein was involved in
many aspects of his financial life, "But let me assure you that I
was NEVER aware of the illegal activity charged in the
indictment."
Write to Khadeeja Safdar at khadeeja.safdar@wsj.com
(END) Dow Jones Newswires
July 16, 2019 02:47 ET (06:47 GMT)
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