Leon Black to Testify Before House Committee on Epstein Ties
The billionaire financier Leon Black is set to appear before the House Committee on Oversight and Reform on Friday morning as part of its ongoing investigation into Jeffrey Epstein.
The interview will be conducted behind closed doors, though the committee is expected to release a transcript later, consistent with previous interviews.
Black, the former CEO of Apollo Global Management, has faced scrutiny over his financial dealings with Epstein for years. This scrutiny intensified following the Department of Justice's release of millions of Epstein-related documents late last year and earlier this year. In 2021, Black resigned as chairman and CEO of Apollo Global Management.
Financial Relationship Between Black and Epstein
A report commissioned by Apollo several years ago revealed that Epstein provided financial services to Black between 2012 and 2017. Despite Epstein's 2008 guilty plea to Florida state prostitution charges, including procuring a minor, Black paid Epstein a total of millions in fees, according to an internal Apollo report. Black has characterized these payments as compensation for tax and estate-planning services.
In a copy of Black’s prepared remarks to Congress viewed by , Black stated he is appearing "to set the record straight about my relationship with Jeffrey Epstein and, in particular, why I paid him the money I did."
"I knew Epstein for 18 years before I paid him a dime," the statement read. "By the time I first paid Epstein in 2013, I knew him to possess an unrivaled network of relationships with individuals in finance, academia, science, politics, and more.
"I also knew him to possess a remarkable acumen about tax, insurance, and trusts and estates matters," Black wrote, adding that he "paid Epstein for his bona fide advice on these matters, in addition to helping to manage and improve the operation of my nascent Family Office."
"With the benefit of hindsight," Black said, "I now know, as does the world, that Epstein was engaged in horrific, sordid activities. I feel terrible for Epstein’s victims."
Black further stated:
"I did not know about this nefarious activity until Epstein was charged with trafficking in July 2019." He acknowledged knowing about Epstein’s 2008 guilty plea to state charges related to prostitution involving a minor.
"Epstein told me that it was an isolated incident resulting from a fake ID," Black said. "Five years after his conviction, I gave Epstein a second chance, as did many others. I wish I had not."
Allegations and Legal Actions Against Black
Among the documents released by the Department of Justice earlier this year was one titled "PROMINENT NAMES," which included Black. This document was part of the FBI’s investigation into Epstein. However, it is unclear for whom the presentation was prepared, and it does not indicate that investigators verified any allegations referenced against the named individuals.
Under Black’s name, the document lists several allegations, including a claim that "Epstein told [name redacted] to give Black a massage while Black was naked." Another allegation states that "another female gave Black a massage and he made her perform oral sex." Black has denied these allegations and any wrongdoing.
In his prepared remarks for Friday, Black stated:
"Let me state unequivocally that I have never abused a woman. I have never been with an underage woman. I have never engaged in sex trafficking. I have never paid Epstein for access to women. I was never blackmailed by Epstein. I was not involved with, and had no knowledge of, any of Epstein’s heinous conduct."
Three women have filed lawsuits against Black alleging sexual abuse. Black has denied these claims. One lawsuit has been dismissed, another withdrawn, and one remains pending. Black’s lawyers told that the misconduct allegations were false and that "subsequent events have established with certainty that Mr Black’s account was truthful, and his accusers’ claims were not."
Black called the lawsuits "demonstrably baseless" and the allegations "entirely fabricated" in his prepared remarks.
Another document in the Epstein disclosures noted that the Manhattan district attorney’s office began investigating allegations against Black. No charges have been filed.
Investigations and Settlements
Separately, the US Virgin Islands filed a lawsuit regarding Black’s ties to Epstein and several women. Black settled with the territory. The settlement agreement stated, "The terms of this Agreement shall not be cited by any person as evidence of wrongdoing by Black."
The New York Times reported this year that, according to the released DOJ records, Epstein paid Black to women on several occasions and suggested ways to obscure the payments.
A spokesperson for Black declined to comment to the Times on the payments. In a separate statement to the newspaper, Black’s lawyers said the DOJ documents "make clear that Mr Epstein embellished, exaggerated and lied about Mr Black" and asserted that Black was unaware of Epstein’s sex trafficking or that Epstein paid any women on Black’s behalf.
Independent Review by Apollo
In 2020, Apollo hired the law firm Dechert LLP to conduct an independent review of Black’s relationship with Epstein. The firm reviewed over 60,000 documents and interviewed more than 20 witnesses. The report found "no evidence that Black or any employee of the Family Office or Apollo was involved in any way with Epstein’s criminal activities at any time."
The report also concluded there was "no evidence that Epstein ever introduced Black, or offered to introduce Black, to any underage woman," and no indication that Apollo used Epstein’s services or that Epstein invested in any Apollo-controlled fund.
According to the report, Black and Epstein maintained a social relationship from the mid-1990s until 2018. Black retained Epstein to provide advisory services on trust and estate planning, taxes, and philanthropy for him and his family office.
In his opening remarks, Black wrote, without further detail, that "Epstein solved a massive estate problem for me, that none of the experts and lawyers I consulted had been able to solve," adding: "It was a problem that would have destroyed enormous value for my family and in Apollo, the company I had founded."
Black also wrote that Epstein told him the fees he paid were tax-deductible "60-cent dollars," which Black later learned was not true.
"With hindsight, I now see that Epstein exaggerated, embellished, manipulated and outright lied – prolifically and without concern for me or my family," Black stated.
Black said he terminated Epstein’s services in 2018 due to Epstein’s persistent demands for more money, misrepresentations about the "60 cent fee" payments, and failure to repay most of a $30 million demand loan Black had made to him.
Congressional Inquiry and Political Reactions
The House Oversight and Reform Committee sent a letter to Black in March requesting his interview as part of its Epstein investigation. Later that month, Senator Ron Wyden, a Democrat, alleged in a letter that DOJ records suggested Epstein may have acted as a "fixer" regarding women who were paid tens of millions of dollars for their silence, accusing Black of using Epstein to conceal such payments.
In another letter to House committee leaders ahead of Black’s testimony, Wyden stated that the committee’s deposition of Black under oath presents a unique opportunity to obtain answers from one of Epstein’s largest benefactors and a major source of funding for Epstein’s criminal network.
Black’s representatives have rejected Wyden’s claims, calling them "false and misleading" and asserting that Wyden’s accusations serve "his own selfish political interests."
A spokesman for Black said:
"Mr Black paid Epstein for tax and estate planning work and he had no awareness of Epstein’s criminal activity. He looks forward to answering the committee’s questions, providing additional clarity and furthering their work."
Black’s Closing Statement
In his prepared opening statement for Friday, Black concluded:
"I wish I had never met Epstein. I regret ever doing business with him. My association with him, the frivolous but destructive litigation, the endless rumor mill, have created a toxic environment for my wife and family, which I deeply regret."
"I am here to voluntarily answer questions about the work that Epstein did for me and for the services for which I paid him. I am not here to answer questions about my personal life which would be hurtful to my wife, children and family."
