Finansnyheder

L Brands chief Wexner ‘embarrassed’ by Epstein relationship

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Les Wexner, the 82 year-old head of Victoria’s Secret owner L Brands, has said he is “embarrassed” by his relationship with “depraved” money manager Jeffrey Epstein.

The billionaire was for decades a client of Epstein, who committed suicide last month while awaiting trial on charges of sex trafficking underage girls.

Mr Wexner used introductory remarks at L Brands’ investor day in Ohio on Tuesday to further distance himself from the indicted sex offender.

The chief executive said he had been “taken advantage of” by Epstein, describing him as “depraved” and his behaviour “abhorrent”. It was “something that I’m embarrassed I was even close to,” he said at the event, adding it was “in the past”.

In August Mr Wexner wrote in a letter to members of the Wexner Foundation that Epstein had “misappropriated vast sums of money” from him and his family. He said it came to light in 2007 when Mr Wexner sought to unwind his relationship with the money manager.

“We are all at some point betrayed by friends,” he added on Tuesday. “Everyone has to feel enormous regret from the advantage that was taken of so many young women.”

Via Financial Times

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