clearn.png
Monday September 16th, 2019 8:56PM

L Brands chairman 'embarrassed' by former ties with Epstein

By The Associated Press
Related Articles
  Contact Editor

NEW YORK (AP) — The chairman and CEO of Victoria's Secret parent L Brands says he is "embarrassed" by his former ties with the disgraced financier Jeffrey Epstein, according to multiple media reports.

Les Wexner delivered the remarks during his opening address Tuesday at the company's annual investor day in Columbus, Ohio. The remarks came months after reports of his ties with Epstein surfaced.

"Being taken advantage of by someone who is ... so depraved is something I'm embarrassed I'm even close to," said Wexner, according to CNBC. "In the present, everyone has to feel enormous regret for the advantage that was taken of so many young women."

The apology comes as Wexner, along with other L Brands executives, are under pressure to turn around its marqee Victoria's Secret, whose once loyal fans have fled for other alternatives that offer more comfortable fits and have a more inclusive image.

The CEO has said he completely severed ties with Epstein nearly 12 years ago.

Epstein started managing Wexner's money in the late 1980s and helped straighten out the finances for a real estate development Wexner was backing in a wealthy Columbus, Ohio suburb.

It was through Wexner that Epstein acquired his Manhattan mansion, a seven-story, 21,000 square foot former prep school less than a block from Central Park.

Wexner sold his entire interest through which he owned the home to an entity owned by Epstein on Nov. 11, 1998. The home, located across the street from the Frick Collection and a residence owned by Bill Cosby, has been valued at approximately $77 million. It's considered one of the largest single residences in Manhattan.

Epstein was arrested in July on federal sex-trafficking charges, drawing new attention to allegations he had sexually exploited women and girls. He killed himself in jail in August while awaiting trial.

Wexner publicly accused Epstein of misappropriating "vast sums" of his fortune after Epstein was charged by federal authorities this summer. He didn't offer details on the alleged thefts.

  • Associated Categories: Associated Press (AP), AP Business
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
L Brands chairman 'embarrassed' by former ties with Epstein
L Brands' Chairman and CEO Les Wexner says he's 'embarrassed' by former alliance with disgraced Jeffrey Epstein
3:34PM ( 5 minutes ago )
Lawyer: John Hinckley interested in music industry job
The man who tried to assassinate President Ronald Reagan is interested in getting a job in the music industry, possibly in California
3:21PM ( 18 minutes ago )
Pope says US critics use 'rigid' ideology' to mask failings
Pope Francis said Wednesday he wasn't afraid of schism in the U.S. Catholic Church led by his conservative critics, but says he prays that it doesn't happen
3:18PM ( 21 minutes ago )
Associated Press (AP)
Climate change, trade woes reshape Frankfurt auto show
The headwinds buffeting the global auto industry are making themselves felt at the Frankfurt Motor Show as the industry confronts slowing global trade and auto sales, the U.S
2:58PM ( 41 minutes ago )
Scientists rethink Alzheimer's, diversifying the drug search
Scientists explore novel ways to attack Alzheimer's in the wake of a string of disappointing drug failures
2:57PM ( 42 minutes ago )
SC to consider abortion ban; bill faces uncertain future
A small group of state senators are holding a hearing over whether South Carolina should follow the lead of other states and ban nearly all abortions
2:40PM ( 59 minutes ago )
AP Business
Lawyer: John Hinckley interested in music industry job
The man who tried to assassinate President Ronald Reagan is interested in getting a job in the music industry, possibly in California
3:21PM ( 18 minutes ago )
Pope says US critics use 'rigid' ideology' to mask failings
Pope Francis said Wednesday he wasn't afraid of schism in the U.S. Catholic Church led by his conservative critics, but says he prays that it doesn't happen
3:18PM ( 21 minutes ago )
Italy's new pro-EU govt wins vote, now faces 2020 budget
Italian Premier Giuseppe Conte's new government has won its second and final mandatory confidence vote in Parliament, now must come up with a 2020 budget
3:14PM ( 25 minutes ago )
Apple unveils a cheaper iPhone and pricing for streaming TV
Apple expected to reveal relatively minor changes to iPhone line-up amid sales slump that raises the stakes riding on an upcoming video service
3:09PM ( 30 minutes ago )
Trump dismisses John Bolton, says they 'disagreed strongly'
President Donald Trump has fired national security adviser John Bolton. Trump tweeted Tuesday that he told Bolton Monday night that his services were no longer needed at the White House
3:08PM ( 31 minutes ago )