A U.S. Senate committee investigating the tax avoidance work that Jeffrey Epstein, the registered sex offender, did for the private equity mogul Leon Black has questioned Bank of America over Mr. Black’s hefty payments to Mr. Epstein, according to a letter viewed by The New York Times.
They included fees paid to Mr. Epstein for advising on a sophisticated trust that saved Mr. Black more than $1 billion in taxes.
Mr. Black’s decades-long business dealings and personal relationship with Mr. Epstein have dogged him ever since Mr. Epstein was arrested on federal sex trafficking charges in July 2019.
(Mr. Epstein hanged himself in a federal jail a month after his arrest.)
Mr. Black, a co-founder of Apollo Global Management, with a net worth of $13 billion, ultimately stepped down from all leadership posts because of the controversy.
Persons:
Jeffrey Epstein, Leon Black, Epstein, Ron Wyden, Black, Banks
Organizations:
U.S, of America, Mr, The New York Times, Senate Finance Committee, Apollo Global Management
Locations:
Oregon