Apollo Management head Leon Black had more to say about his relationship with the infamous pedophile Jeffrey Epstein. His comments came in an Apollo earnings call.
Black also said that he knew of other people with financial ties to Jeffrey Epstein, but did not name names. Although Forbes reports that these other clients included a U.S. Treasury secretary, heads of state, Nobel laureates and prominent philanthropists.
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On rumors that his dealings with Epstein resulted from some sort of blackmail Leon Black declared, “Any suggestion of blackmail or any other connection to Epstein’s reprehensible conduct is categorically untrue. Let me be clear. There has never been an allegation by anyone that I engaged in any wrongdoing, because I did not.”
“Like many other people I respected, I decided to give Epstein a second chance. This was a terrible mistake. I wish I could go back in time and change that decision, but I cannot.”
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At Apollo, we continue to work hard on behalf of our investors and act as a capital solutions provider to companies across the globe. To learn more about our 3Q 2020 earnings results and join the upcoming conf. call, visit: https://t.co/aDlxJIyAHq #apolloearnings pic.twitter.com/JK5W3UbCFN
— Apollo Global Management, Inc. (@apolloglobal) October 29, 2020
According to reports, after Jeffrey Epstein’s first arrest back in 2008 Leon Black sent Epstein a number of wire transfers, each in the millions of dollars, over a number of years. $10 million went to a foundation started by Epstein. He was also paid so called consulting fees which brought about suspicion from Deutsche Bank, where Mr. Epstein kept his accounts.
To the man on the street out there this all stinks of hush money. What, if anything, did Black get in return for his money?
Leon Black has formally denied any involvement With Epstein’s crimes in formal letters to Apollo Global Management.
He once wrote, “I want to emphasize that Apollo has never done any business with Mr. Epstein at any point in time. Neither Mr. Epstein nor any company controlled by him has ever invested in any funds managed by Apollo.”
Apollo Global Management lost a number of important accounts over the Jeffrey Epstein scandal. Black had paid Epstein more than $50 million in various fees between the infamous rapist’s first arrest and 2017.
According to Bloomberg, the State of Connecticut halted new investments to the firm from its pension fund as did a Pennsylvania pension. And major consultants are advising their clients to stay away from Apollo.
While many investors may only care about the bottom line and how much money a firm will make them, enough people are also concerned with the appearance of impropriety and do not wish to be associated in any way with such a public scandal as the whole Jeffrey Epstein affair.
