Leon Black’s financial ties to Jeffrey Epstein probed by Senate panelBy Reuters
July 25, 2023
The Senate’s Finance Committee on Tuesday revealed an ongoing probe into private equity billionaire Leon Black’s financial ties with disgraced late financier Jeffrey Epstein, and said the investigation “uncovered serious tax issues.”
“The investigation has uncovered serious tax issues and other concerns with trusts and structures Black executed to avoid over $1 billion in future gift and estate taxes,” the panel said in a statement on Tuesday, adding its probe began in June 2022.
The Senate panel said that a reported $158 million of payments in several installments from 2012 to 2017 by Black to Epstein for financial advice seemed “inexplicably large,” given that Epstein was “neither a licensed tax attorney nor a certified public accountant.”
The panel also alleged Black “has refused to answer questions or provide any documents that could demonstrate how Epstein’s compensation for tax and estate planning services was determined or justified.”
A spokesperson for Black said the billionaire had “cooperated extensively” with the panel’s probe and provided detailed information.
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Source:
https://nypost.com/2023/07/25/leon-blacks-jeffrey-epstein-financial-ties-probed-by-senate/
