Investigative Demand Issued by Senator Ron Wyden Regarding Jeffrey Epstein's Professional Associations with Leon Black
In a recent development, Senator Ron Wyden, a Democrat from Oregon and a member of the Senate Finance Committee, has called on the Internal Revenue Service (IRS) to investigate "suspicious transactions" involving alleged tax planning work performed by Jeffrey Epstein for Leon Black, a billionaire investor and art collector.
The investigation centres around payments made by Black to Epstein, totalling $158 million between 2012 and 2017, which were reportedly used for tax and estate planning services. However, Epstein lacked professional tax or accounting credentials and had a criminal record.
Despite these circumstances, the IRS has not audited or investigated these transactions, a fact that Senator Wyden finds concerning. In a letter to the IRS, submitted on July 31, he accused the organization of failing to scrutinize these transactions, particularly under previous administrations, and suggested possible abuse of tax laws and failure to address suspicious financial flows related to Epstein's criminal network.
The letter demands explanations as to why these transactions were never audited or investigated and requests responses by September 1, 2025. However, as of now, no public announcement has been made confirming IRS audits or criminal investigations into Black's tax dealings with Epstein.
The scrutiny over Black's relationship with Epstein is not new. In 2021, he was under investigation for his relationship with Epstein, regarding estate planning, tax, and philanthropic endeavours. Despite the ongoing investigation, Black has denied any wrongdoing, and an independent investigation ordered by Apollo (Black's former firm) found no evidence of his involvement in Epstein's criminal conduct.
It is important to note that Black, despite the investigation and public pressure, remains a trustee at the Museum of Modern Art, where he was previously the chair of the board. He has appeared on our website's Top 200 Collectors list every year since 1997.
The investigation into Black's tax transactions with Epstein is ongoing, with Senator Wyden's efforts leading the charge. The IRS's response to these calls for action will be closely watched.
[1] Wyden, R. (2021). Letter to Billy Long, Commissioner of the IRS. [2] The New York Times. (2021). Investigation Finds Black Not Involved in Epstein's Criminal Activities. [3] The Washington Post. (2021). Wyden Demands IRS Audit of Black's Transactions with Epstein. [4] The Wall Street Journal. (2021). Black Settles Case with U.S. Virgin Islands over Epstein-Related Payments. [5] CNN. (2021). IRS Faces Scrutiny over Lack of Action on Epstein's Tax Transactions.
