Summary
Billionaire investor and former Apollo Global Management CEO Leon Black was issued two subpoenas by the House Committee on Oversight and Accountability on June 11, 2024, after he declined to answer questions during a closed-door deposition regarding non-disclosure agreements (NDAs) he signed related to convicted sex offender Jeffrey Epstein. Black left the hearing following the issuance of the subpoenas.
Key Chronology of the Hearing
- Voluntary Appearance: Black voluntarily appeared for a closed-door deposition with the House Oversight Committee as part of its investigation into his ties to Jeffrey Epstein.
- Refusal to Answer: During the hearing, Black refused to disclose information regarding NDAs he may have signed with or related to Epstein.
- Subpoenas Issued: Committee Chairman James Comer (R-KY) issued two subpoenas:
- One requiring Black to provide all NDAs to which he is a party.
- One requiring Black to appear for a separate formal deposition on July 16, 2024.
- Departure: Black left the hearing after receiving the subpoenas.
Factual Details and Context
- Nature of Payments: Black has testified that he paid Epstein a total of $158 million for legitimate tax and estate planning advice. An internal investigation conducted by the Dechert law firm for Apollo Global Management concluded that these fees were for legitimate services.
- Prior Investigation: The amount of these payments had previously been investigated by the U.S. Senate.
- Background on Epstein: The committee is investigating whether Epstein was involved in the creation or funding of NDAs, and to what extent. Jeffrey Epstein was a convicted sex offender who died in 2019.
- Legal Case: A lawsuit filed against Black by former model Guzel Ganieva, who alleged sexual abuse and referenced an NDA, was dismissed after she received approximately $9 million.
- Black's Departure from Apollo: Black co-founded Apollo Global Management and left his role as CEO in 2021 amid scrutiny over his relationship with Epstein. He has denied any involvement in Epstein's sex-trafficking operation.
Statements from Participants
Leon Black: In his prepared opening statement, Black stated that Epstein solved a significant estate problem for him and that he was duped out of more than $60 million by Epstein. He said, "I knew Jekyll. I didn't know Hyde... I did not know about this nefarious activity until Epstein was charged in July 2019."
Committee Chairman James Comer (R-KY): Stated that the subpoenas were a result of Black "refusing to answer specific questions about the ... NDAs." He added that the committee believes "that information is vital to our investigation" to determine Epstein's role in the NDAs.
Attorney Susan Estrich: Representing Black, called the subpoenas "a premeditated political decision" and a "planned political stunt." She stated that Epstein had no involvement with any NDAs signed by Black.
Representative Robert Garcia (D-CA): Said that Black "stormed out" of the hearing and stated Black "will be held accountable if he doesn't comply" with the subpoenas.