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Comprehensive Investigative Report into the Wexner-Epstein Alliance (1985–2026)
For decades, Leslie “Les” Wexner was celebrated as the retail visionary who built an empire from the ground up, transforming the American wardrobe through brands like Victoria’s Secret and Bath & Body Works. But as of February 2026, a series of explosive revelations has stripped away the corporate polish, revealing a dark, multi-decade partnership with Jeffrey Epstein that functioned more like a criminal enterprise than a business arrangement.
Newly unsealed federal documents, released under the Epstein Files Transparency Act in early 2026, have shattered Wexner’s long-standing narrative that he was merely a victim of Epstein’s financial deception. These files portray a relationship defined by a total transfer of financial sovereignty, mutual secrets, and an infrastructure that facilitated one of the most notorious trafficking rings of the 21st century.
The Total Relinquishment of Power: The 1991 Power of Attorney
The genesis of the Wexner-Epstein relationship dates to the mid-1980s. Despite receiving warnings from associates that Epstein was “a rat” and untrustworthy, Wexner was charmed by Epstein’s apparent grasp of complex tax structures and currency markets. By 1987, Epstein had displaced Wexner’s previous advisors to become the gatekeeper of the billionaire’s financial life.
In July 1991, Wexner granted Epstein full general power of attorney over his personal and financial affairs. Legal experts have described this move as “extraordinary” and “reckless,” as it provided Epstein with plenary authority to act as Wexner’s proxy in virtually all matters:
- Unilateral Asset Control: Epstein held the authority to buy, sell, trade, and transfer securities, real estate, and other assets without seeking prior approval.
- Banking Sovereignty: He possessed the ability to sign checks, open accounts, and borrow money in Wexner’s name.
- Legal Binding Power: Epstein had the authority to enter Wexner into binding contracts and legal agreements.
- Personnel Management: He was granted the power to hire and fire staff within Wexner’s personal and business ecosystem.
By the late 1990s, Epstein had restructured Wexner’s wealth into a labyrinth of trusts and shell companies, often routing assets through the U.S. Virgin Islands. SEC filings from 1999 show that Epstein exercised “dispositive power” over shares held in trust for Wexner’s children, granting him the liquidity and status necessary to build his global trafficking network.
Specific Asset Transfers and Financial Shell Companies
Forensic analysis of SEC filings and property records illustrates how Epstein weaponized Wexner’s fortune to build his own infrastructure:
- The Herbert N. Straus House: This 51,000-square-foot Manhattan mansion was originally purchased by Wexner. Although Epstein occupied it for decades, the deed was formally transferred to an Epstein-controlled entity in 2011 for a recorded sale price of $0.
- The Boeing 727 (“Lolita Express”): This aircraft was originally purchased using Wexner’s funds before being transferred to an Epstein-controlled company, Comoco Inc..
- Health and Science Interests II: A trust organized under Ohio law that listed Leslie H. Wexner and Jeffrey E. Epstein as co-trustees. Its principal office was located “c/o Jeffrey E. Epstein, Trustee” in the U.S. Virgin Islands.
- The Wexner Children’s Trust: SEC filings identify this as an entity where Epstein exercised significant control over L Brands stock via the power of attorney.
- The Limitless: Epstein was deeply involved in the construction and management of Wexner’s superyacht, using the asset to project an image of extreme wealth.
- The $100 Million “Decoupling” Payment: Following the 2007 “severance,” Epstein paid Wexner $100 million. Investigators believe this was a settlement of mutual “debts” rather than a return of stolen funds.
The “Lolita Express” and Unsealed Flight Logs
The 2026 release of documents under the Epstein Files Transparency Act included the most complete version of the flight logs for the Boeing 727.
- Purchased with Wexner Funds: The aircraft was originally acquired through Wexner’s capital before being moved to Epstein’s Comoco Inc..
- Trafficking Infrastructure: The plane served as the primary tool for transporting victims and high-profile guests between New York, Palm Beach, New Mexico, and the Virgin Islands.
- Evidence of Contact: Flight logs released in 2026 provide additional context to the movement of victims like Virginia Giuffre, who alleged she was trafficked to Wexner multiple times.
Victim Profiles and the Machinery of Abuse
Recent unsealings have provided harrowing details regarding the specific use of Wexner’s infrastructure to facilitate the abuse of victims:
- Virginia Giuffre’s Testimony: In unsealed depositions, Giuffre alleged she was “trafficked” to Wexner and had sexual relations with him “multiple times”. She testified that Ghislaine Maxwell instructed her to wear specific lingerie for these encounters, creating a dark link to Wexner’s retail empire.
- The Maria Farmer Incident (1996): Farmer, a young artist hired to work on Wexner’s estate in New Albany, Ohio, alleged she was sexually assaulted by Epstein and Maxwell at the estate’s guest house.
- Victim Containment: Crucially, Farmer testified that when she attempted to flee the estate, she was prevented from doing so by security staff who were part of Wexner’s personal security detail, not Epstein’s private team.
- The “Talent Scout” Ruse: Throughout the 1990s, Epstein utilized his connection to Wexner to pose as a “talent scout” for Victoria’s Secret to lure young women to hotel rooms.
The Corporate Cover-Up at L Brands
The operational integration of Epstein into L Brands was visceral and damaging. Internal investigations in 2020 and 2021 revealed that company leadership was aware of Epstein’s predatory behavior as early as the mid-1990s.
- Ignored Complaints: Models and agents complained to company leadership that a man claiming to be Wexner’s advisor was harassing women, yet no decisive action was taken.
- The Role of Ed Razek: Chief Marketing Officer Ed Razek, a close confidant of Wexner, presided over a broader culture of harassment and misogyny at Victoria’s Secret.
- Shareholder Settlement: L Brands agreed to a $90 million settlement in 2021 to resolve claims that the board failed to monitor Epstein’s involvement.
- Non-Disclosure Agreements: A critical component of the settlement was the release of current and former employees from NDAs regarding sexual harassment.
Analysis of the “Gang Stuff” Letter
Among the millions of pages released in early 2026 was a handwritten draft letter from Epstein to Wexner that offers a glimpse into their shared secrets.
- Shared Illicit History: Epstein wrote, “You and I had ‘gang stuff’ for over 15 years,” suggesting a level of illicit camaraderie.
- Mutual Debts: Epstein asserted that the two men owed each other “great debts,” implying the flow of benefit was not unilateral.
- The Threat of Exposure: The letter explicitly mentions secrets kept from Wexner’s wife, Abigail, and advises Wexner to remain silent if questioned by her. The phrase “We don’t know what we don’t know” has been interpreted as a subtle threat.
Legal Culpability and Congressional Action
On February 10, 2026, the DOJ released a previously redacted FBI document from August 15, 2019, which officially listed Les Wexner as a “suspected co-conspirator” in the sex trafficking enterprise.
The pressure on Wexner is compounded by a parallel scandal at Ohio State University involving Dr. Richard Strauss. Wexner served on the OSU Board of Trustees during the era when Strauss abused students. In February 2026, a judge denied Wexner’s motion to quash a subpoena in the Strauss cases, forcing him to testify in two separate sex abuse scandals in the same month.
The U.S. House Committee on Oversight issued formal subpoenas in January 2026 for testimony and documents from the following individuals:
- Leslie H. Wexner: Scheduled for deposition in Ohio on February 18, 2026.
- Darren Indyke: Epstein’s estate executor and lawyer, scheduled for deposition on February 25, 2026.
- Richard Kahn: Epstein’s estate executor and accountant, scheduled for deposition on March 5, 2026.
Conclusion: A Legacy Tarnished
As of February 14, 2026, the narrative of Les Wexner as a mere victim has been systematically dismantled. The unsealed documents paint a portrait of a relationship that was far deeper, darker, and more transactional than previously admitted.
Wexner now faces a reckoning in the form of sworn testimony before Congress. The deposition scheduled for February 18, 2026, represents a critical juncture where for the first time, the billionaire will be compelled to answer for the “gang stuff,” the financial settlements, and the specific allegations of survivors like Maria Farmer and Virginia Giuffre.
Works Cited (Click Here)
Letter from Les – The Wexner Foundation
Date: August 2019
Relevance: Wexner’s public admission of his introduction to Epstein.
URL: https://www.wexnerfoundation.org/letter-from-les/
Jeffrey Epstein – Wikipedia
Date: February 2026
Relevance: Background on criminal network and associated figures.
URL: https://en.wikipedia.org/wiki/Jeffrey_Epstein
New York Times details how Les Wexner met sex trafficker Jeffrey Epstein
Date: December 16, 2025
Relevance: Reporting on the genesis of the bond in the 1980s.
Unredacted Epstein files and looming deposition thrust Les Wexner back into spotlight
Date: February 2026
Relevance: Documentation of unredacted FBI files and 2026 legal escalations.
Wexner, Epstein relationship went past 2007, email shows
Date: December 2025
Relevance: Evidence of the 2008 email contradicting the severance narrative.
URL: https://www.thelantern.com/2025/12/wexner-epstein-relationship-went-past-2007-email-shows/
Les Wexner Named as Epstein Co-Conspirator by FBI in Newly Unredacted Files
Date: February 10, 2026
Relevance: Disclosure of the 2019 FBI co-conspirator designation.
Epstein wrote draft message to Les Wexner about ‘gang stuff’
Date: February 6, 2026
Relevance: Analysis of the “gang stuff” letter and mutual obligations.
L Brands to Pay $90M to End Shareholder #MeToo Suits
Date: July 30, 2021
Relevance: Legal outcome regarding corporate culture and oversight failures.
URL: https://www.cohenmilstein.com/l-brands-pay-90-million-end-shareholder-metoo-suits-bloomberg-law/
Ranking Member Robert Garcia Statement After Subpoenas Formally Issued
Date: January 2026
Relevance: Official Congressional record of subpoenas for Wexner, Indyke, and Kahn.
SEC Filing 0000909518-99-000561
Date: 1999
Relevance: Financial documentation of the Wexner-Epstein trust architecture.
URL: https://www.sec.gov/Archives/edgar/data/1085482/0000909518-99-000561.