Billionaire Leon Black defends US$158M paid to Epstein

Leon Black, chairman and chief executive officer of Apollo Global Management LLC, at the Milken Institute Global Conference in Beverly Hills, Calif., on Tuesday, May 1, 2018. (Patrick T. Fallon/Bloomberg via Getty Images)

WASHINGTON — Billionaire investor Leon Black said Friday that Jeffrey Epstein deceived him during a yearslong relationship in which he paid the disgraced financier US$158 million, but insisted he committed no criminal wrongdoing as he appeared before the House Oversight Committee.

Black is the 16th person to appear before the committee as part of their broader investigation into the web of wealth and influence around Epstein. Before entering the closed-door deposition, Rep. James Comer, R-Ky., the House committee chairman, told reporters he believed it might be the most “groundbreaking” yet.

“This could be a pretty significant deposition as we try to get answers,” said Comer.

Black is the co-founder and former chief executive of the private equity firm Apollo Global Management. He stepped down in 2021 amid fallout over his ties to Epstein.

Black maintained Friday that he was not aware of Epstein’s “nefarious activity” until 2019 and that he paid Epstein for legitimate purposes, in part due to his “unrivaled network of relationships” with influential figures.

“I knew Jekyll. I didn’t know Hyde,” said Black.

Black was featured prominently in the Epstein files

Black is mentioned repeatedly in files that the U.S. Department of Justice has released related to the Epstein investigation. He also appears in a collection of birthday messages sent to Epstein that were released by the House committee last year, including a poem attributed to him that refers to “Blond, Red or Brunette, spread out geographically.”

A 2021 review commissioned by Apollo found that Black paid Epstein $158 million from 2012 to 2017, after Epstein pleaded guilty in 2008 to soliciting prostitution from a minor. The review said the payments were for “bona fide tax, estate planning and other related services.”

“I gave Epstein a second chance, as did many others. I wish I had not,” Black said.

Epstein was indicted in July 2019 on federal charges of sex trafficking of minors and conspiracy to commit sex trafficking of minors. The U.S. Justice Department alleged that Epstein created a vast network of girls, some as young as 14, for him to sexually abuse between 2002 and 2005. He died by suicide in a New York jail cell in 2019 while awaiting trial.

Comer said earlier this year that Epstein’s former accountant, Richard Kahn, told lawmakers in his testimony that Epstein received significant sums of money from a number of high-profile individuals, including Black.

Sen. Ron Wyden, D-Ore., this month referred findings from a nearly four-year investigation into Black to the House committee. In a statement, Wyden said, “Epstein even appears to have acted as a middleman for Black to pay women on Black’s behalf.”

Black broadly denied the allegations in his opening statement, calling them “rank speculation.”

“I have never abused a woman. I have never been with an underage woman. I have never engaged in sex trafficking. I have never paid Epstein for access to women. I was never blackmailed by Epstein.”

Many high-profile figures have been summoned to testify about Epstein

Other figures to have appeared for the investigation include former Democratic president Bill Clinton, former secretary of state Hillary Clinton, Commerce Secretary Howard Lutnick, former attorney general Pam Bondi and Microsoft co-founder Bill Gates.

Gates testified earlier this month and said he had made a “grave error in judgment” by meeting with Epstein.

Black said Epstein’s network included SpaceX founder Elon Musk, Google co-founder Sergey Brin and Peter Thiel, the co-founder of PayPal and Palantir.

Democrats on the House committee have pushed Republicans to seek testimony from President Donald Trump, a Republican who had his own yearslong relationship with Epstein. Republicans have refused, saying they have not come across any evidence that Trump did anything wrong during his well-documented friendship with Epstein.

Comer has said he has been in touch with the U.S. Justice Department about acting attorney general Todd Blanche coming in for questioning soon.

Bondi, in her testimony, stressed that Blanche had overseen the chaotic release of the federal Epstein files, which included the unintentional release of victim information.

Joey Cappelletti, The Associated Press