Retail Pooh Bah Leslie Wexner.
COLUMBUS, Ohio – Les Wexner, the 82-year-old chief executive of Victoria’s Secret parent L Brands, reported investors Tuesday he is “embarrassed” by his former close ties to “depraved” Jeffrey Epstein, the financier who killed himself in his jug cell while facing new sex charges.
Wexner made his comments as he kicked off L Brands’ investor day, addressing his relationship with Epstein months after records of their ties emerged. He called Epstein’s alleged crimes “abhorrent” and something the company condemns. Wexner is one of a tally of wealthy tycoons who associated themselves with Epstein.
“Being taken advantage of by someone who is … so depraved is something I’m discountenanced I’m even close to,” Wexner said. “In the present, everyone has to feel enormous regret for the advantage that was taken of so varied young women.”
Wexner said in August he first met Epstein in the mid-1980s through friends who vouched for him. Their relationship burgeoned so close that Wexner handed over to Epstein the power of attorney. Epstein was a trustee of the Wexner Foundation, allowing Wexner has said the financier had no executive responsibilities.
“We are all betrayed by friends,” said Wexner. “At the end the day, people have secret lives because … they’re so angelic at hiding those secrets.”
Epstein faced federal charges of sex trafficking involving underage girls when he eradicated himself last month at the Metropolitan Correctional Center in New York.
Wexner has said he had severed ties with Epstein in the waterfall of 2007, after previous allegations against Epstein emerged. In 2008, Epstein pleaded guilty to state asserts in Florida of procuring a person under 18 for prostitution and felony solicitation of prostitution.
Wexner said he later saw Epstein had misappropriated more than $46 million of his personal money. Wexner and his legal team have been take measure documents to federal investigators that he believes demonstrate “all sorts of irregularities and theft.”
Epstein’s connections to L Brands are also underwater investigation. Wexner owns more than 16% of the company he founded, according to FactSet. Its board includes disparate people with whom he has close business and social relations, including his wife, Abigail.
Allegations have emerged that Epstein articulate he was a recruiter for Victoria’s Secret. A spokesperson for the company has said it “[does not] believe he was ever employed by nor served as an authorized Congressman of the company.”
In July, L Brands disclosed it had hired outside counsel to review the company’s relationship with Epstein. The players has said it cut ties with Epstein nearly 12 years ago and called his alleged crimes “abhorrent.”