Shares of Victoria's Secret parent company L Brands slid as much as 5 percent on Tuesday as it emerged that Jeffrey Epstein was a 'trusted confidant' of its CEO.
Epstein – the shady financier charged with sex trafficking – managed the fortune of billionaire Leslie Wexner, who has not himself been accused of any wrongdoing.
But the retail magnate's ties with the alleged pedophile go back a long way – Epstein started managing Wexner's money in the 1980s, according to a 2003 Vanity Fair profile.
The underwear mogul – estimated to be worth $6.7 billion – is Epstein's only confirmed client.
L Brands CEO Les Wexner (pictured in 2016 with a Victoria's Secret model) is sex offender Jeffrey Epstein's only confirmed client. The retail magnate's links to Epstein are weighing on his lingerie empire's image, already tarnished by calls to evolve in the #MeToo era
Shares of Victoria's Secret parent company L Brands Inc slid on Tuesday as it emerged that Epstein was a 'trusted confidant' of its CEO Wexner
The Epstein controversy is just the latest for L Brands - its Victoria's Secret brand is already burdened by weak sales and disenchanted socially-conscious consumers
The magazine reported that Wexner allowed Epstein to take an active role in his L Brands empire, which includes Bath & Body Works, Pink, Express and Victoria's Secret.
In 1989, Wexner used a trust to buy an Upper East Side mansion that is believed to be the largest private residence in Manhattan for $13.2 million.
Epstein moved in after Wexner and his wife moved to Ohio in 1996.
Wexner's trust transferred ownership of the house to Epstein in 2011 for $0, Bloomberg reported.
'People have said it’s like we have one brain between two of us: each has a side,' Epstein said in the 2003 profile.
In 1992, Epstein reportedly even persuaded the retail magnate to put him on the board of the Wexner Foundation in place of Wexner’s ailing mother.
Wexner later fired Epstein as suspicions about his sleazy behavior swirled.
'Mr. Wexner severed ties with Mr. Epstein more than a decade ago,' an L Brands spokesperson told Forbes.
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Wexner's (left in 2016) ties with the alleged pedophile (right in 2005) go back a long way – Epstein started managing Wexner's money in the 1980s
Epstein has many links to the rich and famous. He was once friends with President Donald Trump, who said on Tuesday 'I had a falling out with him a long time ago' (Trump with Epstein at Mar-a-Lago in 2000)
L Brands, which Wexner founded, has not made recent public comments on his links to