Billionaire investor Leon Black defends $158 million paid to Epstein

Billionaire investor Leon Black stated on Friday that he paid Jeffrey Epstein $158 million over several years because Epstein deceived him, but asserted he committed no criminal acts while testifying before the House Oversight Committee. Black is the sixteenth individual to testify as part of the committee's inquiry into Epstein's network of influence and wealth. He co-founded and formerly led the private equity firm Apollo Global Management, resigning in 2021 due to his association with Epstein. Black claimed he was unaware of Epstein's "nefarious activity" until 2019 and that the payments were for legitimate services, citing Epstein's "unrivaled network of relationships." A 2021 review by Apollo indicated that Black paid Epstein $158 million between 2012 and 2017, following Epstein's 2008 guilty plea for soliciting prostitution from a minor. The review characterized these payments as being for "bona fide tax, estate planning and other related services." Black acknowledged regretting giving Epstein a second chance. Epstein was federally indicted in July 2019 on sex trafficking charges.