Les Wexner's Congressional Deposition on Epstein Ties Begins

• Wexner was Epstein's only publicly known client and primary source of wealth, including funding for Epstein's plane, island, homes, and cash assets
• The House Oversight Committee's investigation centers on understanding 'the money' and why Wexner provided such extensive financial support to Epstein, which remains unclear
• Wexner had given Epstein, a former high school math teacher, power of attorney over his finances decades ago; after Epstein's 2019 arrest and suicide, Wexner claimed to have been 'taken advantage of'

Summary

Key Development:

Billionaire Les Wexner, 88-year-old retired founder of L Brands (Victoria's Secret parent), began a congressional deposition Wednesday regarding his ties to convicted sex offender Jeffrey Epstein. The closed-door session in Ohio follows the Department of Justice's recent release of millions of additional Epstein-related files.

Background:

Wexner served as Epstein's closest known associate and primary benefactor. Decades ago, Wexner granted Epstein—a former high school math teacher turned money manager—power of attorney over his finances. Wexner was Epstein's only publicly known client for years.

Congressional Focus:

The House Oversight and Government Reform Committee, which subpoenaed Wexner and other Epstein associates in January with bipartisan support, is primarily investigating financial relationships. Rep. Robert Garcia (D-CA), the committee's ranking Democrat, stated: "The most important information for us is really about the money."

Garcia noted that much of Epstein's wealth—including his private plane, island, homes, and overall fortune—came directly from Wexner, though the reasons remain unclear.

Legal Status:

Wexner has not been charged with any crime. Following Epstein's July 2019 arrest on federal sex trafficking charges and subsequent suicide in jail, Wexner claimed to have been "taken advantage of" by someone "so depraved."

Market Implications:

While primarily a legal and political matter, this ongoing investigation could impact Wexner's business legacy and any remaining connections to retail entities. The Wexner Foundation did not immediately respond to requests for comment.

This remains a developing story.