Leon Black is stepping down as CEO of Apollo Global Management following an internal investigation into his ties to convicted pedophile Jeffrey Epstein, the company said Monday.
The months-long investigation, led by law firm Dechert, found no evidence that Black was involved in any of Epstein’s alleged criminal activities, but determined that he paid Epstein $ 158 million in court fees. ‘advice, superior to those previously revealed.
Black will continue to be the president of Apollo. Marc Rowan, who last year left the firm he founded with Black and Josh Harris to run his personal investments, will return as CEO, Apollo said.
Epstein pleaded guilty in 2008 to soliciting and soliciting a minor for his prostitution. In 2019 he was re-arrested for sex trafficking following the scrutiny of a non-processing agreement he signed in 2007 with Florida federal authorities involving a broader investigation into his dealings with underage girls. He died in prison for an apparent suicide.
“Black saw Epstein as a confirmed bachelor with eclectic tastes, who often employed attractive women. However, Black did not believe that any of the women working at Epstein were minors. Black never remembers seeing Epstein with a minor at any time, ”said Dechert’s research.
“I am extraordinarily proud of what my partners and I have built at Apollo over the last 30 years,” Black said in a statement. “This is a decision I have been considering for several years.”
The Post reported exclusively in July 2019 that Black’s family charity had kept Epstein as director for four years following Epstein’s 2008 guilty plea, which the foundation claimed was the result of a clerical error. . Black later said he maintained ties with Epstein after 2008, saying he was paid to provide tax and estate planning advice.
Black remains the president of the Museum of Modern Art, which has so far lagged behind the leading buyer and art donor.