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Leon Black Claims Jeffrey Epstein Misled Him Out Of $60 Million

He also said he had never abused women, engaged in sex trafficking, paid Epstein for access to women or been blackmailed by him.

,   and  TIPP Staff
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Leon Black (Pic via @ABC)

Former Apollo Global Management CEO Leon Black told the House Oversight and Government Reform Committee that Jeffrey Epstein deceived him into paying more than $60 million in additional financial management fees by falsely claiming the payments were tax deductible, according to prepared testimony shared with CNBC.

Black said he appeared voluntarily to explain his relationship with the convicted sex offender and firmly denied any involvement in sexual misconduct. He stated that he had never abused women, engaged in sex trafficking, paid Epstein for access to women or been blackmailed by him.

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According to the testimony, Black relied on the findings of the 2021 Dechert report, which concluded that Epstein provided legitimate tax and estate planning services that generated significant savings for Black's family office. The report found Black paid Epstein $158 million.

Black said Epstein falsely assured him the fees were effectively reduced through tax deductions, leading him to underestimate the true cost of the payments.

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Congressional Epstein Investigation Calls Billionaire Leon Black
The committee is expected to question Black about nearly $170 million in payments made to Epstein between 2012 and 2017.
tippinsightsTIPP Staff

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