Lex Wexner ‘Conned’ by Jeffery Epstein
Billionaire retail executive Les Wexner told the House Oversight Committee that his decades-old relationship with Jeffrey Epstein began in the mid to late 1980s through social and professional circles in New York. At the time, Wexner was expanding his retail empire and was introduced to Epstein as a financially sophisticated adviser with elite connections. According to Wexner’s prior public statements and his testimony to lawmakers, Epstein gradually positioned himself as a trusted financial manager. By the early 1990s, Epstein had gained extraordinary authority over Wexner’s personal finances, including power of attorney. That legal control allowed Epstein to manage investments, oversee property transactions, and represent Wexner in certain business matters. Wexner said in his deposition that he was ultimately “conned,” describing Epstein as a manipulative figure who cultivated trust and influence. He acknowledged that granting such sweeping authority was a serious mistake and characterized himself as “naive” and “gullible” for allowing it.
Financial Control and the Manhattan Townhouse
One of the most scrutinized aspects of their relationship involves a Manhattan townhouse that Wexner purchased in 1989. The property was later transferred to Epstein for no reported purchase price and became Epstein’s primary New York residence. Federal prosecutors would later describe that residence as a central location in Epstein’s sex trafficking operation. Lawmakers questioned Wexner about how Epstein acquired control of the property and about the broader financial structure that allowed Epstein to present himself as a billionaire financier. Investigators are examining whether Epstein’s access to Wexner’s wealth and assets helped him build the façade of independent financial power that attracted other influential figures. Wexner has previously said he severed ties with Epstein in 2007 after discovering what he described as financial improprieties. He stated that he revoked Epstein’s power of attorney and ended all business dealings at that time.
Congressional Scrutiny Intensifies
The House inquiry is part of a broader congressional effort to understand how Epstein was able to accumulate wealth, property, and social capital despite a 2008 plea agreement in Florida involving solicitation of a minor. That earlier case allowed Epstein to serve 13 months in county jail under a controversial arrangement that later drew national criticism. During the deposition, members of Congress pressed Wexner on what he knew, when he knew it, and whether warning signs were missed. Representative Robert Garcia has publicly argued that Epstein’s financial credibility was closely tied to his association with Wexner, given Wexner’s role as founder of L Brands and longtime chief executive of Victoria’s Secret. Wexner has consistently denied any knowledge of Epstein’s criminal conduct and has not been charged with any wrongdoing. Federal prosecutors have previously indicated that he was not a target of criminal investigation.
An Ongoing Investigation
The Oversight Committee’s investigation remains active, with additional witnesses expected. Lawmakers are focused not only on Epstein’s crimes but on the systems of wealth, influence, and institutional deference that allowed him to operate for years with limited scrutiny. For Wexner, the testimony represents a high-profile effort to publicly account for one of the most controversial professional relationships of his career. For Congress, it is part of a larger attempt to document how financial power intersected with one of the most disturbing criminal enterprises in recent American history.
