{"id":163849,"date":"2021-01-27T04:25:22","date_gmt":"2021-01-27T01:25:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/leon-blacks-158m-jeffrey-epstein-payout-raises-eyebrows\/"},"modified":"2021-01-27T04:25:22","modified_gmt":"2021-01-27T01:25:22","slug":"leon-blacks-158m-jeffrey-epstein-payout-raises-eyebrows","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/leon-blacks-158m-jeffrey-epstein-payout-raises-eyebrows\/","title":{"rendered":"#Leon Black\u2019s $158M Jeffrey Epstein payout raises eyebrows"},"content":{"rendered":"

“#Leon Black\u2019s $158M Jeffrey Epstein payout raises eyebrows<\/strong>”
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Leon Black\u2019s nine-figure payout to convicted pedophile alleged sex trafficker Jeffrey Epstein has the legal world scratching its head.<\/p>\n

Black\u2019s Apollo Global Management on Monday revealed that its billionaire CEO and co-founder paid Epstein \u2014 who committed suicide in prison in August 2019 \u2014 $158 million between 2013 and 2017 for professional advice on tax audits, wealth management and estate planning.<\/p>\n

That\u2019s more than Black paid advisors including Paul Weiss, the pre-eminent estate and tax planners Black hired to execute on Epstein\u2019s ideas, according to a report by law firm Dechert, which was hired by Apollo to probe Black\u2019s ties to Epstein.<\/p>\n

\u201cIt is clear that the compensation paid by Black to Epstein far exceeded any amounts Black paid to his other professional advisors,\u201d Dechert reported.<\/p>\n

Black justified this by explaining that he paid Epstein \u201cin amounts that were intended to be proportional to the value provided,\u201d Dechert said. And Black, Dechert says, believed Epstein \u201cprovided advice that conferred more than $1 billion and as much as $2 billion or more in value.\u201d<\/p>\n

But the report, released Monday, also raises questions about how much Epstein was really worth by painting a picture of an advisor who sometimes caused more headaches than he provided solutions. <\/p>\n

In hiring Epstein, Black, 69, overlooked his 2008 conviction for soliciting a 17-year-old for sex because he \u201cbelieved Epstein had mistakenly understood was older,\u201d the report said. <\/p>\n

\u201cBlack viewed Epstein as a confirmed bachelor with eclectic tastes, who often employed attractive women. However, Black did not believe that any of the women in Epstein\u2019s employ were underage.\u201d\u00a0\u00a0<\/p>\n

The report app<\/a>lauded some of Epstein\u2019s work, including his \u201cfire drill\u201d plans to test how Black\u2019s estate might be treated. \u201cDespite Epstein\u2019s lack of formal training in law or accounting, his fire-drill plans were .. detailed and comprehensive,\u201d witnesses said.<\/p>\n

But people also complained that Epstein put forth ideas that sounded brilliant only to quickly fall apart.<\/p>\n

\u201cEpstein put forth a variety of ideas on many different tasks by circulating lengthy lists of ideas that he thought should be pursued,\u201d the report said. \u201cMany of those ideas would appear plausible at face value, but did not hold up under scrutiny.\u201d<\/p>\n

\u201cThere was a general<\/a> consensus that some of Epstein\u2019s ideas were uniquely creative and useful, while others were unremarkable or not viable,\u201d the report said.<\/p>\n

Some witnesses also described Epstein as creating a toxic and destructive work environment for Black\u2019s family office, saying would take credit for good ideas regardless of his involvement, the report said.<\/p>\n

The report also said the felon tried to use personal information he gleaned in his time with Black to extract more money from the billionaire amid a fee dispute that resulted in the men parting ways.<\/p>\n

\u201cEpstein \u2026 would invoke his friendship with Black in those emails,\u201d the report says. \u201cIncluding by referencing personal matters that Black had shared with Epstein in confidence.\u201d<\/p>\n

And while Epstein allegedly told Black that his fees, which amounted to about $31.6 million a year over four years, would be tax deductible, they weren\u2019t, the report said. <\/p>\n

Tax and estate experts say they are confounded. \u201cPaying tens of millions to a novice is beyond strange,\u201d a lawyer at a top law firm said.<\/p>\n

Added a tax lawyer: \u201cMaybe there\u2019s some justification, but I\u2019d love to see what it is.\u201d<\/p>\n

\u201cFrankly, I\u2019m offended on behalf of Paul Weiss,\u201d said Joe Patrice, editor at legal news<\/a> site Above the Law and a former litigator at Cleary Gottlieb. \u201cImagine giving considered advice as a global leader and finding out he\u2019s giving this guy millions.\u201d<\/p>\n

Neither Black nor Paul Weiss responded to a request for comment.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Leon Black\u2019s $158M Jeffrey Epstein payout raises eyebrows” Leon Black\u2019s nine-figure payout to convicted pedophile alleged sex trafficker Jeffrey Epstein has the legal world scratching its head. Black\u2019s Apollo Global Management on Monday revealed that its billionaire CEO and co-founder paid Epstein \u2014 who committed suicide in prison in August 2019 \u2014 $158 million between…<\/p>\n","protected":false},"author":1,"featured_media":163850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2019\/07\/190709-leon-black-epstein.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[90870,72964,55838,83344,72968,72868,70360],"class_list":["post-163849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-26-21","tag-apollo-global-management","tag-jeffrey-epstein","tag-law-firms","tag-leon-black","tag-private-equity","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/163849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=163849"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/163849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/163850"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=163849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=163849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=163849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}