Leon Black Agreed to Pay $62.5 Million to Settle Epstein-Related Claims
The billionaire investor Leon Black agreed to pay $62.5 million to the U.S. Virgin Islands in January to be released from any potential claims arising out of the territory’s three-year investigation into the sex trafficking operation of the disgraced financier Jeffrey Epstein, according to a copy of the settlement agreement.
The previously undisclosed settlement came after the Virgin Islands reached a $105 million deal in November with Mr. Epstein’s estate. The next month, the territory sued JPMorgan Chase in federal court over the bank’s 15-year relationship with Mr. Epstein, a registered sex offender who killed himself in a Manhattan jail cell in 2019.
The Virgin Islands government produced its settlement agreement with Mr. Black in response to a public records request by The New York Times. In January, representatives of the two parties held a private mediation session to settle claims, according to another document reviewed by The Times. The $62.5 million settlement followed that session. Mr. Black agreed to pay in cash, according the settlement document.
The settlement shows the extent to which Mr. Black, once a titan of the private equity industry, has gone to limit scrutiny of his decades-long social and business ties to Mr. Epstein. Those dealings, including the revelation that he paid $158 million to Mr. Epstein for tax and estate planning services, had become a source of embarrassment for Mr. Black in the years after Mr. Epstein’s death.
Source: The New York Times
