On Monday, Mr. Black announced his plan to step down as chief executive this year. “I have advised the Apollo board that I will retire as C.E.O. The review — ordered by the firm’s board at Mr. Black’s behest in October, after The New York Times detailed at least $75 million in payments — found that Mr. Black had paid Mr. Epstein $158 million in a five-year period ending in 2017. He had also lent Mr. Epstein more than $30 million, only $10 million of which was paid back, the report found. Mr. Black’s payments effectively bankrolled the lifestyle of Mr. Epstein — whom Mr. Black viewed as a “confirmed bachelor with eclectic tastes,” according to the report — in the years after his 2008 guilty plea in Florida to a prostitution charge involving a teenage girl.

Source: New York Times January 25, 2021 21:47 UTC