…In recent weeks, revelations about the wealth Epstein amassed during his decades-long relationship with Wexner and his repeated alleged abuse of underage girls during that period have complicated that picture. On Wednesday, the saga took another twist as Wexner wrote to members of the Wexner Foundation that his former money manager had “misappropriated vast sums of money from me and my family.”

The deception, uncovered in 2007 around the time Epstein gave up his role managing the billionaire’s fortune, was a “tremendous shock,” Wexner said in the letter. “I am embarrassed that, like so many others, I was deceived by Mr. Epstein.”  …He had met Epstein “through friends who vouched for and recommended him as a knowledgeable financial professional,” according to the letter.  Among them was Robert Meister, then a vice chairman of insurance giant Aon, who counted Wexner as a client. At the time, Wexner seemed much more focused on running his company than expanding his net worth, according to people close to him.

Around 1990, Wexner appointed Epstein as the head of Wexner Investment Co., his de facto family office. The decision effectively demoted Harold Levin, who’d then been in charge of Wexner’s personal finances for seven years, and came as a surprise to several people who worked with the fashion CEO at the time.  //

In 1991, Epstein was granted power-of-attorney over Wexner’s assets. Within a few years, he was also a director of the Wexner Foundation and Wexner Heritage Foundation, and was involved in developing the town of New Albany outside Columbus, Ohio, where Wexner lives.

Wexner Investment Co. invested in several real estate deals during the 1990s. In some cases, Epstein took a cut of the proceeds once the transactions were finalized, a person familiar with the matter said. Epstein also served as trustee of several trusts, foundations and corporations tied to Wexner. Between 1994 and 2002, such entities sold an aggregate $1.5 billion of L Brands stock, regulatory filings show.

In his Wednesday note [Regarding money Epstein repaid], Wexner said that some of the money had been repaid. In 2008, two entities tied to Epstein transferred $46 million to a charitable foundation overseen by Wexner’s wife Abigail, mostly in Apple Inc. shares. “All of that money — every dollar of it — was originally Wexner family money,” the letter said.