US billionaire Leon Black defends US$158 million paid to Epstein

Billionaire investor Leon Black testified before the House Oversight Committee regarding his relationship with Jeffrey Epstein. Black stated he paid Epstein $158 million over several years, asserting he was deceived by the financier and committed no criminal wrongdoing. He claims he was unaware of Epstein's illicit activities until 2019 and that the payments were for Epstein's "unrivalled network of relationships" with influential figures. Black, co-founder of Apollo Global Management, stepped down in 2021 due to his ties with Epstein. His appearance is part of the committee's investigation into Epstein's network. Committee chairman James Comer suggested this deposition could be significant in their search for answers.

Billionaire investor Leon Black is set to appear before the House Oversight Committee on Friday as lawmakers seek to understand his ties to Jeffrey Epstein. Black, co-founder and former CEO of Apollo Global Management, has paid Epstein $158 million from 2012 to 2017 for "bona fide tax, estate planning and other related services." The payments were made despite Epstein's guilty plea in 2008 to soliciting prostitution from a minor. Sen. Ron Wyden, D-Ore., has referred findings from a nearly four-year investigation into Black's arrangement with Epstein to the House committee, stating that "Epstein even appears to have acted as a middleman for Black to pay women on Black's behalf." Other high-profile figures, including Bill Gates and former Attorney General Pam Bondi, have also testified about their connections to Epstein. The House committee is seeking to untangle the web of wealth and influence surrounding Epstein's abuse.

Billionaire Leon Black is scheduled to appear before the House committee on oversight and reform for an interview regarding his ties to Jeffrey Epstein. The closed-door interview is part of the committee's investigation, with a transcript expected to be released later. Black, the former CEO of Apollo Global Management, has faced intensified scrutiny following the Department of Justice's release of Epstein-related files. A commissioned report indicated Epstein provided financial services to Black between 2012 and 2017, with Black paying significant fees after Epstein's 2008 guilty plea. Black has denied allegations of sexual abuse and any wrongdoing, and no charges have been brought against him. Separately, Black settled a civil investigation with the US Virgin Islands for $62.5 million.