News/Commentary

Jeffrey Epstein took $100+ MILLION from a mysterious source

September 11, 2023 | | Print Article

Details of more than $150 million in payments made to convicted sex offender Jeffrey Epstein remain clouded amidst a Senate probe of the billionaire source.

In 2021, Leon Black, the co-founder of the private equity firm Apollo Global Management stepped down from his role as CEO after $158 million in payments had been exposed. Now, after the billionaire reportedly failed to meet the deadline in responding to a probe from the Senate Finance Committee, the reason for those payments appeared as unlikely to be exposed as the infamous Epstein client list.

“Black has said that Epstein gave him tax and estate-planning advice, for which he was paid $158 million from 2012 to 2018, according to an audit — far above what those services are typically worth,” New York magazine reported.

“Black traveled with Epstein a few times, including once taking his family to the dead child trafficker’s private island,” the report continued before noting, “In August, the U.S. Virgin Islands — which is suing JPMorgan Chase over its role in facilitating Epstein’s trafficking operations — settled with Black for $62.5 million in cash, raising the possibility that whatever actually happened between the two men would never be publicly aired.”

The billionaire faced multiple rape allegations connected to his relationship with Epstein, one of which had been dismissed. In July, Oregon Sen. Ron Wyden (D), in his capacity as chair of the Finance Committee, had sent a letter to Black with questions related to an investigation of the man’s financial ties with the private island owner.

“Despite not being a certified public accountant or licensed tax attorney, Epstein was paid amounts that far exceeded what you paid other professional advisors,” the senator wrote, “including some of the most high-priced legal counsel in the nation.”

A response to Wyden’s latest questions was expected by Sept. 1 to which New York Times reporter Matthew Goldstein had detailed the following week, “Leon Black’s lawyers ‘again refused to provide satisfactory answers on highly questionable financial dealings’ with Jeffrey Epstein, according to a Senate Finance Committee aide. The committee is investigating the $158 million Black paid Epstein for tax & estate planning.”

Last month, Black’s name had been reported alongside the likes of Prince Andrew, Peter Thiel and Bill Gates among those who were connected to the convicted sex trafficker but not named in his “Little Black Book” as continued investigations uncovered a trove of documents, including thousands of emails, connecting Epstein to high-profile players between 2013 and 2017

On the matter of Black failing to meet the Sept. 1 deadline for the Finance Committee, spokesman for the billionaire Whit Clay told New York magazine, “Mr. Black has cooperated extensively with the committee, provided detailed information about the matters under review.”

“The transactions referenced in the committee’s letter were lawful in all respects, were conceived of, vetted, and implemented by reputable law firms and tax and other advisers, and Mr. Black has fully paid all taxes owed to the government,” he added.

However, a statement from a committee spokesman countered, “The response also appears to dodge serious questions regarding tax schemes involving billions of dollars in trusts, but committee staff are continuing to review the material.”

Should the committee wish to subpoena Black for the information, a vote would be required to approve it. Such a move remains to be determined, and the magazine remarked, “Black’s resistance to explaining why he paid Epstein so much isn’t going to make the question go away.”

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Kevin Haggerty
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