EFTA00026723.pdf
298 KB
Extraction Summary
8
People
14
Organizations
5
Locations
4
Events
3
Relationships
4
Quotes
Document Information
Type:
Email forwarding a news article
File Size:
298 KB
Summary
This document is an email from July 2019 forwarding a CNBC article detailing how Jeffrey Epstein donated over $46 million to Les Wexner's YLK Charitable Fund in 2008, shortly before Epstein's jail sentence. The article highlights the financial entanglement between Epstein and Wexner, noting that Epstein's donation consisted largely of Apple stock and Bear Stearns assets. It also discusses political contributions Epstein made to figures like Stacey Plaskett and the Clinton Foundation, and the subsequent efforts by recipients to donate those funds to charity following Epstein's 2019 arrest.
People (8)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Subject of article |
Accused child molester, financier, donor
|
| Les Wexner | Billionaire / L Brands Founder |
Recipient of Epstein donations to his foundations, trying to distance himself
|
| Abigail Wexner | Spouse of Les Wexner |
President of YLK in 2008
|
| Brian Schwartz | Journalist |
Author of the CNBC article
|
| Chuck Schumer | Senator (D-N.Y.) |
Donating $7,000 in Epstein contributions to charity
|
| Stacey Plaskett | US Virgin Islands Congresswoman |
Received campaign contributions from Epstein, decided to donate them to charity
|
| Bill Clinton | Former President |
Formerly friendly with Epstein; Clinton Foundation received money
|
| Donald Trump | President |
Described as 'once friendly' with Epstein
|
Organizations (14)
| Name | Type | Context |
|---|---|---|
| CNBC |
Publisher of the article
|
|
| L Brands |
Company founded by Les Wexner
|
|
| YLK Charitable Fund |
Wexner's nonprofit that received $46M from Epstein
|
|
| The C.O.U.Q. Foundation |
Epstein's nonprofit
|
|
| Financial Trust Co. |
Epstein's firm based in USVI
|
|
| Wexner Family Charitable Fund |
Received assets from YLK in 2010
|
|
| The Wexner Foundation |
Epstein served as trustee in 1990s
|
|
| Gratitude America Ltd. |
Epstein's current nonprofit (as of 2019)
|
|
| The Hewitt School |
NY all-girls school receiving $15k from Gratitude America
|
|
| The O'Gorman Garden |
Harlem preschool receiving $30k form Gratitude America
|
|
| Clinton Foundation |
Received $25k from Epstein in 2006
|
|
| Apple |
Stock used for donation
|
|
| Bear Stearns Asset Backed-Securities Overseas Ltd. |
Shares used for donation
|
|
| U.S. Attorney’s Office Southern District of New York |
Listed in footer
|
Timeline (4 events)
2008
Locations (5)
| Location | Context |
|---|---|
|
Wexner's base
|
|
|
Base for Financial Trust Co.
|
|
|
Where Epstein served time
|
|
|
Location of townhouse/crimes
|
|
|
Location of mansion
|
Relationships (3)
Epstein managed Wexner's money; Epstein donated $46M to Wexner's foundation; Wexner praised Epstein in 2003.
Epstein gave Plaskett three $2,700 checks for her campaign.
Epstein donated $25,000 to Clinton Foundation; Clinton spokesman says they haven't spoken in a decade.
Key Quotes (4)
"Epstein in 2008 essentially bankrolled one of Les Wexner’s first nonprofit foundations with a contribution of more than $40 million in stock and other assets."Source
EFTA00026723.pdf
Quote #1
"It’s just unseemly that they would associate with someone who first was accused of things that made them extremely uncomfortable and then he eventually pleaded guilty to those offenses."Source
EFTA00026723.pdf
Quote #2
"I think we both possess the skill of seeing patterns... But Jeffrey sees patterns in politics and financial markets, and I see patterns in lifestyle and fashion trends."Source
EFTA00026723.pdf
Quote #3
"Les never spent more than two months there"Source
EFTA00026723.pdf
Quote #4
Full Extracted Text
Complete text extracted from the document (7,883 characters)
From: [REDACTED]
To: [REDACTED]
Subject: RE: CNBC; Jeffrey Epstein used $46 million charitable donation to keep alive his ties with billionaire Les Wexner
Date: Thu, 11 Jul 2019 20:00:42 +0000
Importance: Normal
To: [REDACTED]
Subject: RE: CNBC; Jeffrey Epstein used $46 million charitable donation to keep alive his ties with billionaire Les Wexner
Date: Thu, 11 Jul 2019 20:00:42 +0000
Importance: Normal
https://theintercept.com/2019/07/09/jeffrey-epstein-sex-trafficking-shredder/
From: [REDACTED]
Sent: Thursday, July 11, 2019 2:57 PM
Subject: CNBC; Jeffrey Epstein used $46 million charitable donation to keep alive his ties with billionaire Les Wexner
Sent: Thursday, July 11, 2019 2:57 PM
Subject: CNBC; Jeffrey Epstein used $46 million charitable donation to keep alive his ties with billionaire Les Wexner
https://www.cnbc.com/2019/07/11/epstein-donated-46-million-to-les-wexners-private-foundation-in-2008.html?_source=sharebar|twitter&par=sharebar
Jeffrey Epstein used $46 million charitable donation to keep alive his ties with billionaire Les Wexner
• PUBLISHED MOMENTS AGO
• Brian Schwartz @SCHWARTZBCNBC
• Accused child molester Jeff Epstein in 2008 essentially bankrolled one of Les Wexner’s first nonprofit foundations with a contribution of more than $40 million in stock and other assets.
• Despite the massive donation, the Wexners tried to distance themselves from Epstein.
• While Wexner appeared to shun Epstein after his first arrest in Florida, many politicians and companies have continued to accept contributions from him or his organizations.
• Brian Schwartz @SCHWARTZBCNBC
• Accused child molester Jeff Epstein in 2008 essentially bankrolled one of Les Wexner’s first nonprofit foundations with a contribution of more than $40 million in stock and other assets.
• Despite the massive donation, the Wexners tried to distance themselves from Epstein.
• While Wexner appeared to shun Epstein after his first arrest in Florida, many politicians and companies have continued to accept contributions from him or his organizations.
EFTA00026723
Before hedge fund manager Jeffrey Epstein went to jail in Florida more than a decade ago, billionaire L Brands founder and Chairman Les Wexner was trying to distance himself from the accused child molester.
That didn’t stop Epstein in 2008 from essentially bankrolling one of Wexner’s first nonprofit foundations with a contribution of more than $40 million in stock and other assets. The transactions were received only months before Epstein was sentenced to a term in a Palm Beach County jail on a charge of soliciting an underage prostitute.
Epstein is back in the news after his arrest Saturday on an indictment filed by the U.S. Attorney’s Office for the Southern District of New York which charged him with trafficking dozens of underage girls.
Some of the alleged crimes took place in a New York townhouse once owned by Wexner. He is currently being held without bail. Wexner was known to be one of the money manager’s few clients.
The case has reignited interest in the politically connected businessman who was once friendly with President Donald Trump and ex-President Bill Clinton. It and has prompted some who received money from him to wash their hands of it. On Wednesday Sen. Chuck Schumer, D.-N.Y., said he would donate $7,000 in contributions from Epstein to charity. Stacey Plaskett, Democratic U.S. Virgin Islands congresswoman, has also decided to give her Epstein contributions to two different charities.
Epstein provided initial financing to Wexner’s YLK Charitable Fund more than 10 years ago, even as Wexner and his wife started to break away from the financier after the initial accusations surfaced, according to someone in their inner circle.
“They are both very prominent in Columbus [Ohio]” the person told CNBC on Wednesday. “It’s just unseemly that they would associate with someone who first was accused of things that made them extremely uncomfortable and then he eventually pleaded guilty to those offenses,” the person said.
When asked about Epstein’s behemoth donations to the foundation before going to jail, this person refused to comment. It is unclear whether the Wexners will give the money away.
Just before Epstein began a 13-month jail term, his firm, the Financial Trust Co., based in the U.S. Virgin Islands, and his own nonprofit, The C.O.U.Q. Foundation, contributed a combined $46 million plus to YLK , according to a 2008 990 disclosure form. Wexner became YLK’s director in 2010 and his wife Abigail was president in 2008.
It was the only contribution the Wexners received that year. In 2009 and 2010, YLK did not receive a single donation.
Epstein’s C.O.U.Q. also gave $14 million to YLK in 2007, a filing shows.
Epstein first financed the Wexner nonprofit with $33 million worth of Applestock and $5.4 million in shares of Bear Stearns Asset Backed-Securities Overseas Ltd., a third-party company affiliated with the now-defunct bank Bear Stearns. Outside of contributions to The Columbus
EFTA00026724
Foundation, the documents show YLK did not make any other donations from 2007 through 2010.
The assets Epstein gave the Wexners’ nonprofit helped it have at least $10 million in short-term capital gains over the course of 2009 and 2010 as the value of some of the stocks and assets soared. Apple’s stock is now trading at just over $200.
In late 2010, YLK announced it would transfer all of its assets to The Wexner Family Charitable Fund, which in 2017 reported total assets worth $208 million in fair market value, records show. Since 2010 the Wexner fund has been actively contributing to a variety of causes.
Epstein, according to a recent report by Forbes, served in the 1990s as a trustee of a separate group: The Wexner Foundation.
A spokeswoman for Wexner only noted he had “severed ties” with Epstein over a decade ago and declined to comment further.
A member of Epstein’s firm hung up after CNBC identified itself and did not return a later message requesting comment. Attorney’s for Epstein also did not return requests for comment. Calls to the Wexner Foundation, where The Wexner Family Charitable Fund is *located*, along with an email to Les Wexner’s attorney, were not returned. The treasurer of Epstein’s current nonprofit, Gratitude America Ltd., did not return a request for comment.
Before his massive stock distribution to the Wexner group, Epstein told The New York Times that a Manhattan mansion Wexner bought for $13.2 million was now his. “Les never spent more than two months there,” Epstein told the Times in 1996. The City’s Department of Finance values the property at $56 million and Epstein has been accused by prosecutors of engaging in sexual acts with underage girls from 2002 to 2005 in this same New York home.
In an interview with Vanity Fair in 2003, Wexner praised Epstein for his understanding of politics and financial markets, giving a glimpse into why he decided to become one of his clients.
“I think we both possess the skill of seeing patterns,” Wexner said. “But Jeffrey sees patterns in politics and financial markets, and I see patterns in lifestyle and fashion trends. My skills are not in investment strategy, and, as everyone who knows Jeffrey knows, his are not in fashion and design. We frequently discuss world trends as each of us sees them.”
While Wexner appeared to move way from Epstein after his initial arrest, many politicians and companies have continued to accept contributions from him or his organizations.
Gratitude America in 2016 gave $15,000 to the New York-based all-girls school The Hewitt School and the next year, wrote a $30,000 check to The O’Gorman Garden, a Harlem preschool, among other contributions.
During the 2016 and 2018 election cycles, Epstein gave Plaskett a total of three $2,700 checks to help fund her campaigns for Congress. After initially signalling she wouldn’t give back the money, a day later she reversed course and gave the contributions to two charities.
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Before his initial conviction, Epstein also had ties to Clinton and his family’s group, the Clinton Foundation. Epstein contributed to Clinton’s presidential campaign and through his C.O.U.Q. nonprofit in 2006 reportedly sent $25,000 to the foundation. A spokesman for Clinton has said the former president has not spoken with Epstein for over a decade and has no knowledge of his alleged crimes.
It’s unclear if either Clinton, the New York schools or the foundation will return or give away these contributions. They all did not return requests for comment.
[REDACTED]
Public Affairs
United States Department of Justice
U.S. Attorney’s Office | Southern District of New York
Public Affairs
United States Department of Justice
U.S. Attorney’s Office | Southern District of New York
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