However, Mr Black still faces a lawsuit from another woman, Cheri Pierson, who has accused him of raping her two decades ago in Epstein’s mansion in Manhattan. The settlement with Mr Black is part of the US Virgin Islands’ wider investigation of Epstein’s sex trafficking ring, where several girls and young women were sexually abused on Epstein’s private island estate.Ī New York state judge in May dismissed a lawsuit accusing Mr Black of defaming a woman by falsely claiming she tried to extort him after accusing him of rape, which he denied. The billionaire, who co-founded Apollo in 1990, “very much regrets” having “made payments to Epstein for legitimate financial advisory services,” a spokesman for Mr Black said in a statement on Friday. Mr Black, who is worth an estimated $10bn, stepped down as chief executive of Apollo in 2021 after lawyers hired by the private equity firm concluded that he had paid $158m to Epstein for tax advice, help with buying artwork, and other professional services.Ī keen art collector who famously bought a version of Edvard Munch’s “The Scream” for $120m, Mr Black also stepped down as chairman of the Museum of Modern Art in New York. The settlement was reached in January, according to a copy of the settlement agreement from the Virgin Islands government through a public records request obtained by the Times. Leon Black, who has been accused of misconduct in relation to the pedofile financier’s activities, has struck a multimillion dollar deal to avoid a potential lawsuit, according to The New York Times. The co-founder of US private equity giant Apollo has paid the US Virgin Islands government $62.5m (£48.6m) to be released from legal claims relating to Jeffrey Epstein’s sex-trafficking.
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