Billionaire Leon Black’s surprising exit from his govt roles at Apollo International Administration final month got here simply days after a number of administrators on the private-equity agency discovered of sexual assault allegations towards him.
Final month, Black stepped down as chairman of Apollo, which he co-founded 31 years in the past, months after relinquishing his place as chief govt officer of the corporate in January following a report by regulation agency Dechert.
An unbiased overview by Dechert revealed that Black had paid late financier and convicted intercourse offender Jeffrey Epstein $158 million for recommendation on tax and property planning and associated companies between 2012 and 2017. He even lent the disgraced pedophile $30million after his conviction, the New York Times studies.
Final month, Black stepped down as chairman of Apollo, which he co-founded 31 years in the past, months after relinquishing his place as chief govt officer
An unbiased overview by Dechert revealed that Black had paid late financier and convicted intercourse offender Jeffrey Epstein $158 million for recommendation
When asserting his departure, Black cited his spouse’s ailing well being as his personal well being for motivation behind the choice. The allegations, first posted on Twitter and seen by no less than 4 board members, weren’t talked about within the resolution, the New York Post studies.
On March 17, former mannequin Güzel Ganieva took to the social media platform to allege that she was sexually harassed and abused by the billionaire for years.
‘Though I’m a personal particular person, in mild of the latest media protection, I believe I’ve an obligation to make a press release relating to Apollo International Administration’s CEO and Chairman, Leon Black. I used to be sexually harassed and abused by him for years,’ she stated within the submit, that didn’t acquire a lot traction on Twitter.
Ganieva – who emigrated to the U.S. from Russia – added that the habits began in 2008 when she met with him to ‘focus on work.’ She was 25 on the time.
‘Whereas he understood my profession aspirations, he couldn’t perceive me after I refused his sexual advances. I used to be bullied, manipulated, threatened, and coerced,’ she added. ‘Equally, underneath duress, I used to be compelled to signal an NDA in 2015.’
On March 17, former mannequin Güzel Ganieva took to the social media platform to allege that she was sexually harassed and abused by the billionaire for years – beginning in 2008
She concluded: ‘I’m breaking my silence now as a result of I don’t want the sort of predatory habits to proceed taking place to different ladies. #MeToo #LeonBlack’
Black acknowledged realizing however claimed that the 2 had a ‘consensual affair’ that ended ‘greater than seven years in the past.’
‘I foolishly had a consensual affair with Ms. Ganieva that ended greater than seven years in the past,’ Black stated in a press release. ‘Any allegation of harassment or some other inappropriate habits in direction of her is totally fabricated.’
He additionally denied that the allegations from the previous mannequin motivated his resolution to step away from the corporate.
‘That is completely a private matter; this matter has nothing to do with Apollo or my resolution to step away from the agency,’ he added.
Black stated that he believes he was being ‘extorted’ by Ganieva as a result of he allegedly ‘made substantial financial funds to her, based mostly on her threats to go public regarding our relationship, in an try and spare my household from public embarrassment.’
He added that the matter had been referred to ‘the prison authorities’ and that he welcomes ‘a radical investigation.’
There isn’t any indication that any fees are being thought-about are being introduced up towards the previous mannequin.
Whereas Ganieva declined to offer copy of the NDA, a second supply did agree that the doc had been signed.
Though the overview from Dechert cleared Black of any wrongdoing, a collection of company governance adjustments triggered by the overview compelled Black to step down from his govt positions at Apollo.
He introduced 4 days later that he wouldn’t stand for re-election as chairman of the Museum of Fashionable Artwork (MoMA), the New York Occasions reported, citing individuals with information of the choice.
‘The relentless public consideration and media scrutiny regarding my relationship with Jeffrey Epstein – though the exhaustive Dechert report concluded there was no proof of wrongdoing on my half – have taken a toll on my well being and have induced me to want to take a while away from the general public highlight that comes with my each day involvement with this nice public firm,’ Black stated in a letter to Apollo’s board of administrators.
Epstein was discovered useless at age 66 in August 2019 in a Manhattan jail whereas awaiting trial on intercourse trafficking fees for allegedly abusing dozens of underage ladies in Manhattan and Florida from 2002 to 2005.
New York Metropolis’s chief medical expert dominated Epstein’s reason behind loss of life was suicide by hanging.
Apollo appointed Clayton, 54, who was SEC chairman from Could 2017 to December 2020, as lead unbiased director in February to enhance company governance after the overview.