Shares of L Brand, owned by Leslie Wexner, have fallen by more than four percent as friends of Jeffrey Epstein feel the brunt of the financier’s recent indictment in New York courts on sex trafficking charges, according to a report by Bloomberg.
The parent company of Victoria’s Secrets and Bath and Body Works is said to have lost $53 million on paper, which has been suggested is due to Wexner’s friendship and client relationship with Epstein.
Wexner is said to be the only client of Epstein’s money management firm registered in the U.S. Virgin Islands, with Epstein having managed his finances since 1997.
Following Epstein’s allegations of sexual assault almost a decade ago, Wexner stated he had cut ties with the businessman. Wexner was rearrested at a New Jersey airport last week on new sealed indictments based on sex trafficking allegations.