New reports suggest that Apollo CEO Leon Black may have funneled as much as $75 million to disgraced financier Jeffrey Epstein before supposedly cutting ties in 2018.
The initial report published by the New York Times uncovers a number of alleged payments from Black to Epstein made through several companies.
A company that owned Black’s yacht wired $22.5 million to a company in 2017 that managed Epstein’s private jet – a move that raised questions at Deutsche Bank, the report said.
Other transactions passed through Black-owned businesses, according to the report, including a company that Black used to buy much of his billion-dollar art collection. The total amount of money that Black may have funneled to Epstein is around $75 million, which may have allowed Epstein to continue building wealth following his first criminal case.
Black owns roughly 23% of Apollo Management Group, according to a Forbes profile on the financier. He also chairs the New York Museum of Modern Art and serves as a member of the Council on Foreign Relations.
Since the initial subpoena of Black in August, Apollo's stock has steadily declined, falling from around $54 a share to around $42 a share in late September. The stock started to rally over the past couple of weeks, but these revelations may rock the stock's value again.