December 31, 2025 • 53 mins
Leon Black, the billionaire co-founder of Leon Black and longtime face of Apollo Global Management, was effectively forced out of the firm he helped build after revelations about his extensive financial ties to Jeffrey Epstein became impossible to contain. Reporting revealed that Black paid Epstein roughly $158 million over several years for what was described as tax and estate planning advice—payments that continued even after Epstein’s 2008 conviction for soliciting a minor. As public scrutiny intensified, investors, limited partners, and regulators began questioning Apollo’s governance, oversight, and judgment, turning Black from an asset into a reputational liability almost overnight.
While Black formally characterized his departure in 2021 as a voluntary step down, the reality was far more coercive. Apollo’s board commissioned an outside review that confirmed the scale of the Epstein payments, and pressure mounted from pension funds and institutional investors who made clear that Black’s continued presence threatened capital commitments and the firm’s standing. Faced with growing backlash and an untenable optics problem, Apollo moved to distance itself from its co-founder, stripping Black of his leadership role and accelerating a governance overhaul. In practical terms, Black wasn’t gently ushered aside—he was pushed out to protect the firm, marking one of the clearest examples of how the Epstein fallout claimed a major Wall Street power player long before any courtroom accountability arrived.
to contact me:
bobbycapucci@protonmail.com
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While Black formally characterized his departure in 2021 as a voluntary step down, the reality was far more coercive. Apollo’s board commissioned an outside review that confirmed the scale of the Epstein payments, and pressure mounted from pension funds and institutional investors who made clear that Black’s continued presence threatened capital commitments and the firm’s standing. Faced with growing backlash and an untenable optics problem, Apollo moved to distance itself from its co-founder, stripping Black of his leadership role and accelerating a governance overhaul. In practical terms, Black wasn’t gently ushered aside—he was pushed out to protect the firm, marking one of the clearest examples of how the Epstein fallout claimed a major Wall Street power player long before any courtroom accountability arrived.
to contact me:
bobbycapucci@protonmail.com
Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
What's up everyone, and welcome back to the Epstein Chronicles. Tonight,
we're going to talk a little bit more about Leon
Black and the situation that he is facing. Now, when
you talk about a battle of the titans, when you
talk about two of the heaviest hitters in the financial industry,
(00:20):
you're definitely talking about Joshua Harris and Leon Black. These
two dudes built Apollo Global together and they have made
a lot of people a lot of money. Now, obviously
we're talking about big egos, right, So Harris and Leon Black.
(00:42):
Over the years, you know, they've had their falling outs,
They've grown apart, different opinions on how the company should
be run, obviously, a different opinion on if you should
be hanging out with Jeffrey Epstein or not as well.
So this has been kind of building for quite some time,
and it was all brought to a head when the
(01:04):
allegations about Jeffrey Epstein were unleashed. Now, if you were
following this case for a long time, then you knew
about the Leon Black connections, you knew about how deep
him and Epstein were together. But when everything came out
into the actual public eye and you had the new
York Times all over it and other outlets jumping on board. Well,
(01:29):
it got real, real fast. And both of these dudes
have huge egos. They both wanted control of Apollo, and
with the fallout hanging over Black, Harris looked at it
as the best opportunity to push him out the door.
Unfortunately for Harris, it didn't work out the way that
(01:50):
he thought. He thought when they got rid of Black,
that he'd take over, he'd be the big man. Instead,
it was Rowan, who had been basickly retired at the time.
They called him in off the sidelines. That's how much
Black didn't have faith in Harris to handle things. So
they bring Rowan in and obviously Harris is not happy
(02:11):
about it at all. And we're at the point now
where the animosity is so bitter that you have Leon Black,
one of the most powerful, well connected big shots in
the financial world, going after another big shot almost just
as big and saying he's involved in a racketeering case
(02:35):
and he's working hand in hand with Leon Black's accuser. Yo,
this is a big charge here, and if imagine, if it,
you know what this is going to be like if
they get to court, some sort of Discovery, and I
can only imagine the high power lawyers we're going to
see employed here. I'm talking these are no nonsense, cutthroat
(02:57):
make Glaine Maxwell's lawyers look like nice people types. These
are not the kind of people that mess around. They
are the kind of people that will ruin you. And
Harris and Leon Black are legit alpha predators, top of
the full food chain type folk when it comes to
their industry. Now, that doesn't mean they're good people, right
(03:19):
for Harris's part, at least he hasn't been accused of
hanging out with Epstein. But when we get to discussing
folks like this and people who have achieved this level
of financial power, they're not wired the same way that
we are. They think a completely different way, and it
is an all or nothing game for them, and they
(03:42):
legit look to destroy people who they feel like have
crossed them. And now what we're witnessing here is a
huge back room, boardroom fight that is now spilled over
into the public view. And those of us who don't
work in the financial sector, or maybe are not too
(04:03):
familiar with the financial sector, we're getting a little peak
behind the curtain of what it looks like when two
heavy hitters go head to head over something like control
of an entity such as Apollo Global, who up until
the Epstein stuff, was just steamrolling its competition. Now they're
still making gains, but when you look at them relatively
(04:26):
speaking and compare them with some of their competitors, they're
not steam rolling the way they used to. And it
all stems from this situation. So let's take a look
over here at Financial Times and let's see what author
Suji Endop has to say. Headline, Leon Black says former
(04:49):
Apollo protege conspiring to destroy him. Court papers claim Joshua
Harris orchestrated a plot targeting the private equity kingpin after
he was passed over for CEO job. I mean, what
is this the rule of two? And these guys are
the sith. I have to become the most evil of
the evil people, so I have to get rid of
(05:10):
Leon Black to you know, ascend my throne. Take it easy, Palpatine.
Leon Black is accused as former Lieutenant Joshua Harris of
orchestrating a conspiracy to retaliate and destroy him after Harris
was denied the chance to succeed Black as chief executive
of Apollo Global Management, according to court papers filed in
(05:34):
New York on Monday. So Black is not wasting any time,
He's not wasting any words. He's going all in here. Look,
you're involved in a conspiracy. Okay, you're involved in a
Rico case, is basically what he's saying. And you're looking
to extort me and throw some more dirt on my name,
so you look better and I look worse and your
(05:55):
position is solidified while I'm over here existing in quick sand.
That's what's going on here, and it is going to
be fireworks, folks. I mean, this is like pay per
view watching these two dudes battle it out. According to
the papers, when Apollo selected Mark Rowan, another top executive,
(06:16):
to replace Black, in the wake of an independent report
detailing Black's relationship with the late pedophile Jeffrey Epstein, mister
Harris kicked into high gear his campaign to destroy mister Black.
Like Shakespeare's Iago, enraged by being passed over for promotion,
he turned his wrath on his mentor and leader. So
(06:36):
right away, they're trying to set things up in a
certain light and grip this narrative. They're setting it up,
meaning Black's people as Josh Harris is the villain here,
Leon Black is the innocent bystander, and all of this
is just Josh Harris looking to take over the company. Meanwhile,
(06:57):
they're leaving out the key fact that this is all
about Jeffrey Epstein. That's how this all started. Now, I'm
not gonna sit here and tell you for one second
that Harris isn't leveraging this situation. He most certainly is,
just like Edward Bramson leveraged the situation over at Barclays
with Jess Staley. This is what happens in these boardrooms.
(07:19):
And when I tell you it's like Game of Thrones,
I am not kidding you, folks. The backstabbing, the wheeling,
the dealing. Every boardroom has their version of Vari's. It's
insane and just from my little experience dealing with it
for the little bit of time that you know, I
dip my toes is it's a wild, wild experience. The
(07:39):
way things work in the financial sector and these boardrooms,
it's cutthroat as hell. Everybody is looking for that, you know,
place of power. Everyone's looking to move up the food chain,
and you can put that into overdrive when you're talking
about people like Josh Harris and Leon Black, and what
(08:00):
they're having you want, well, I mean, what Black's people
will have you believe is that Black was the you know,
the mentor, the man who taught Harris everything he knows
and then Harris betrayed him, when in reality, the bigger
picture is a lot more murky than that. And Harris
can easily just say, and that's what he has said,
and that's what I would say if I was him,
(08:22):
that this is all about Epstein. He should continue on
that tract, even if he might not, you know, that's
not the whole reason behind it. That's a winning argument, right,
especially in today's climate. Black has previously filed a complaint
alleging a racketeering conspiracy and naming his former mistress, Guzelle
(08:43):
Ganiyeva and the law firm Wigdor. Can we just talk
for a moment how everybody out here is filing all
kinds of racketeering conspiracy charges. You get conspiracy charges, you
get a racketeering charge, you're getting a RICO charge, but
not for Glenwell, how is it that Glaine Maxwell isn't
(09:04):
getting blasted with rico? You see Wigdor getting hit with
rico by Leon Black. Does Leon Black have more pull
than the federal government? Now, obviously it's a civil rico charge, right,
but still, why would they not use that tool and
leave it in their toolbox. Monday's amended lawsuit adds Harris
(09:27):
and New York Public's Relations of New York Public Relations
Titan Steven Rubinstein as defendants. Harris is accused of weaponizing
Miss Ganieva to assassinate Black's character. And now let's remember
Harris is also also has a presence in the sports world,
owns a couple of sports teams, the seventy six ers.
He might have something to do with the Devils. I
(09:48):
believe he has some in on a soccer team as well.
The dude is, you know, a very powerful man. So
it's not like Black is punching down this time, which
is you know something that is shocking to me. They
love to punch down usually, but every now and then
they get into the ring with somebody that's in their
weight class. And while I don't know what the result
(10:13):
is going to be here, if Leon Black thinks he's
going to litigate himself out of this, meaning litigate Joshua
Harris into the poorhouse, he's in for a long, long day,
and I'm pretty sure he knows that as well. He
understands that Harris is nobody to trifle with. So my
guess is that Leon Black really believes that this is
(10:33):
a life or death struggle, meaning his professional life, and
that if he doesn't employ all of the big guns
and go all the way, then he is literally going
to be destroyed forever. Kanieva has been suing Black since
last spring, alleging the billionaires sexually abused her during their
(10:55):
relationship and then damaged her her reputation by publicly accus
using her of extortion. Black has denied those charges, describing
them as defamatory. He also said that she, you know,
flew him to go see I mean she flew with
him to go see Jeffrey Epstein where she was offered
to Jeffrey Epstein. Now, again, we don't have anything to
(11:18):
corroborate any of that. Nothing. I wasn't there. I can't
say to you, Oh yeah, that definitely happened. But does
it fit the pattern? Does it fit them? Oh? It
certainly does. As for mister Harris and his cohort, the
latest court papers alleged their goal has been clear from
the outset. But it was their decision to join forces
(11:39):
with guselle Ganieva, to make common cause with an extortionist,
to use social media and modern technology to further it,
to further their attempt to retaliate against mister Black. I
mean really, and that's you see, this is what they do, right,
Everything's about social media and oh they're using the media
(11:59):
to destroy the these people. All you have to do
is a simple search in the media, go to Google
or Baying or Duck Duck, go wherever you get your news,
and there's two or three articles relating to the story.
So there's really not this media thest following what's going
on with Josh Harris and Leon Black. Unless you follow
the financial world or you're following the Jeffrey Epstein case,
(12:22):
you really don't care about what's going on with these
two idiots. According to Black, Harris convened the war Council
that sounds serious of three prominent public relation firms Rubinstein, Berlin, Rosen,
and Finsbury Glover Herring, as well as multiple law firms,
first to press his interest in succeeding Black and then
(12:43):
later to destroy mister Black in retaliation and retribution. So
what they're gonna do here is they're gonna try and piggyback.
They're gonna say that these groups that were brought together
for Harris to try and push his claim, will call
it a claim since it's like game of thrones, right
for his claim on the throne at Apollo, he brings
all of these groups together, raises his banners, if you will,
(13:05):
And then it was to try and promote him, he says,
to get to this position. Well, after all is said
and done and Harris misses out on the throne, well
you have Black now, who is asserting that these people
were brought together not only to try and push his position,
but to also figure out a game plan to try
(13:27):
and destroy Black because he didn't get the position. That
is what Black and his team are asserting. And again
it's a big, big accusation. My guess is that Leon
Black and his team know what they're doing, and they
probably have some sort of what they think is evidence,
But I don't know. This is going to be a
very tough one for them. According to the lawsuits, some
(13:52):
of these external advisors were allegedly also representing Apollo. The
War Council obsessively tracked public descis cushions of mister Harris,
and critically, mister Blackett claims, I wonder who the hand
of the king was, mister Rubinstein. Maybe I know he's
named in court papers. So if mister Harris is the king,
then I guess Rubenstein was the hand of the king here.
(14:14):
I mean, it's honestly fascinating what happens in these boardrooms
when you get to a certain level and you're dealing
with powerbrokers such as this, men who can piss away
one hundred and fifty eight million dollars to a guy
like Jeffrey Epstein for quote unquote advice. There's all kinds
of wild shit happen in those boardrooms. The public relations
(14:36):
advisors also advisors tracked top keyword searches associated with them,
the geographic source of searches, the number of hits on
Wikipedia pages, even the time of day of news hits
mentioning the men. According to the papers, evans Zemski, an
Apollo employee who worked for Harris, wrote in an email
only us Slack when communicating with Josh, in an attempt
(14:59):
to keep internal meetings and communications closely guarded secrets. So
they were engaging in their you know, their coup hero
or whatever you want to call it, their takedown of Black,
according to Black's people, and they were only using the
app slack when doing so to keep everything on the hush.
You know, you can't spring a trap if everybody knows, right,
(15:22):
So they were looking to keep things on the hush,
keep things under wraps until they were ready to go
into action. They wanted to have you know, surprise on
their side. Black accuses Harris of having been long been
interested in running Apollo, claiming he asked Black for the
top job as far back as twenty fifteen. After being
(15:43):
passed over, mister Harris and his confederates made it their
business to frame and spread miss Ganiheva's lies, potentially extorting
more money for her while destroying mister Black, the lawsuit claims,
And again, let's remember that Leon Black was engaged in
a relationship with Miss Ganieva. That much is not disputable.
He's admitted it. He was engaged in this relationship while
(16:07):
he had a sick wife. By the way, but nah,
he's not capable of being an abusive, sadistic guy. Huh.
Imagine having a sick wife or a sick significant other
and cheating on them. When my soulmate, my life partner,
was sick with breast cancer and she was going through
chemo and radiation, and the last thing I ever thought
about was stepping out on her or anything like that.
(16:30):
I was so concerned about her getting better, so concerned
about making sure she was comfortable. And you got this
asshole running around, you know, creeping with women, and then
after the fact, acting like, you know, he's the victim.
It really offends the senses. Honestly, the notion that mister
(16:50):
Harris was motivated by anything other than the best interests
of the company is false. Black's relationship with Epstein was disqualifying,
plain and simple. And that's where I'm at as well.
Now again, I'm not going to sit here and be
a champion for Joshua Harris. I don't know the man
who knows what he's up to When you know, the
lights are off and the doors are closed and he's
(17:11):
swimming around in his banana hammock in his millions of dollars,
who knows what he's up to? But in this case,
he's not wrong about this. They added that Harris supported
Rowan's appointment is CEO and remains the firm's second largest shareholder.
Apollo declined to comment. Well, Harris isn't stupid. He didn't
become a bazillion trillionaire by cutting bait and losing out
(17:33):
on big investments. And when you look at Apollo, there's
a lot of money to be made there, so you
know that he's not just going to sell, especially if
he's forecasting that more money is on the horizon, and
you know it is. These scumbags are always up to
their you know, hairline in other people's money. Evan Farber,
an attorney for Rubinstein, said in a previous statement that
(17:56):
mister Rubinstein and his firm had that absolutely no relielationship
with miss Ganieva past present, formal or informal. Farbar added,
they have not They have never met or communicated with
her or any of her representatives. These and the rest
of the claims filed by mister Black's attorneys after a concocted,
(18:16):
ever evolving conspiracy theory packed with false information, are not
based in reality. Genie Christiansen, a partner at Wigdor who
represents Ganieva, said Leon Black has taken victim shaming of
sexual assault victims to a stratospheric stratospheric level. By blaming
and shaming miss Ganieva for her status as a sexual
(18:37):
assault victim, Black is showing that he is no titan
to be revered, but is a simple coward. Hey, look,
she's not wrong, right, Look who's gonna revere this guy
at this point? Again, even if there weren't the claims
of his sadistic and violent nature with Miss Ganieva, any
dude that's stepping out on their girl, or any woman
(18:58):
who's stepping out on their man for that matter, and
they're sick, I have zero respect for that. You add
all the other stuff to it, and this dude definitely
makes the wall of shame over here at the Epstein Chronicles, folks.
Just another one of these men in the financial sector
who thinks they can get away with whatever they want.
(19:18):
And then when they're finally called on the carbet, when
it's finally time for them to answer the accusations laid
against them, they can't even take responsibility. Then it's everybody
else's fault. It's a grand conspiracy to ruin me. Well,
Leon Black, you've done a fine job of ruining yourself,
(19:40):
all right, folks. That's gonna do it for tonight. I
will be back tomorrow morning with the morning update, few
contact episodes in between. Hope that all you folks have
a great night. If you'd like to contact me, you
can do that at Bobby Kapuci at ProtonMail dot com.
That's bo b b Y cap use Cci at ProtonMail
(20:01):
dot com. You can also find me on Twitter at
bo bbuy underscore c ap Ucci. The link that we
discussed can be found in the description box eight. We're
gonna talk a little bit more about Leon Black today, folks,
and add some more context. Last time we spoke about
Leon Black, he was responding to the New York Times
(20:25):
article about his relationship with Jeffrey Epstein, and he sent
an email out to the to investors trying to assuge them,
trying to make them not so worried about things. But
now we're hearing behind the scenes that investors are judging him.
(20:47):
See what happens is you become radioactive when you have
the stink of a child sex predator all over you,
and that's what mister Black has. He was very close
to Jeffrey Epstein, very very very very much. Someone involved
with Jeffrey Epstein financially and somebody that these investors understand
(21:14):
is not the kind of guy that you want at
the head of the company that's in charge of your money.
The problems for Leon Black have just begun, folks. His
name has just begun to get thrown around in the
mainstream about this case. Those of us who have been
following it, and I'm guessing pretty much everybody out there
(21:36):
listening to the podcast at this point has known about
Leon Black and his relationship with Jeffrey Epstein for quite
some time. But now it's finally getting out there into
the mainstream. It's finally getting out there where people understand
the sort of power players that were involved. We're not
(21:57):
talking about one or two sick people here. We're talking
about an intercontinental ring of disgustingly rich, disgusting perverts. Now again,
nobody's saying that Leon Black was involved in the direct
abuse of these girls, But his financial relationship with Jeffrey
(22:18):
Epstein and the transactions between the two, Yeah, that brings
you into the the atmosphere, that brings you into the web.
And if you were involved financially moving money for this man,
hiding money for this man, doing trade offs with this man, financially, well,
(22:40):
you can expect yourself to be caught up in a
Rico case because from all signs, that's where this is going.
And we already have a civil reco case going on
down in the Virgin Islands. So it's just a matter
of time now in my opinion, before we see a
(23:02):
real reco case. And when that occurs, when criminal indictments
start dropping Rico indictments to people that were enabling Jeffrey Epstein,
then you know that this case has really kicked it
into overdrive. Now again I've said before, do I expect
all of that to happen? I am not so naive
(23:24):
to have that kind of faith in the government, right.
I think that for sure the core four plus Indike
and Khan are in serious jeopardy of going to prison.
But after that, as far as the enablers go, that's
all going to come down to how much courage these
prosecutors have and how far they want to take this,
(23:49):
Because if they're looking to really get some big feathers
in their cap, if they're looking to go big game hunting, well,
my friends, this is the reserve to do it. In
we know that these prosecutors like to go after the
biggest fish in the pond, and who's a bigger fish
than someone like Leon Black or Glen Dubin or Bill Richardson.
(24:11):
So there, if they want to go after those people,
the way to do it is financially. The question remains
will the prosecution have the courage to do so? Anyway? Today,
in this article, it is about how the investors are
now judging Leon Black after that email. So this is
(24:35):
in response to the email that Leon Black sent out
that we discussed a few days ago. Let's jump into
this article from the Institutional Investor dot com and see
what they have going on. Apollos, leon Black paid Jeffrey
Epstein millions. Investors are privately judging him, but they're not
about to pull money from Apollo author Leanna or And
(25:00):
that's really what it comes down to, right, That's the cold,
disgusting truth of it for these investors. For these people,
it's all about the money. And even if Leon Black
has ties to Jeffrey Epstein or Leon Black is tainted
by Jeffrey Epstein, you're gonna have some people in the
financial sector who look the other way, because hey, it's
(25:24):
all about increasing their wealth, increasing their power, increasing their status,
and if they have to ride Leon Black's back to
do so, they'll That's exactly what they're going to do.
But the good thing is the public is not going
to let Leon Black get away with it. The public
(25:46):
is not going to sit by while another rich son
of a bitch avoids scrutiny. Investors in Apollo Global Management
knew that founder Leon Black had a Jeffrey Epstein problem.
This week, it became a problem once again when a
New York Times investigation revealed new details about Black's relationship
(26:10):
with the convicted sex offender, the scope of their financial ties,
and Black's bat channels for funneling money to Epstein. These
payments aren't in dispute, so there's Look, there's no dispute
that this occurred, that Black and Epstein had this relationship.
All of this money, up to seventy five million dollars
(26:31):
flipped around, moved around, moved into charitable organizations LLCs, et cetera,
et cetera, and nobody is ever held responsible for any
of it. It is true that I paid mister Epstein
millions of dollars annually for his work, which he provided
(26:52):
twenty twelve to twenty seventeen Black wrote to Apollo clients Monday.
We talked about that as well, about the massive amount
of money and the real close relationship between Jeffrey Epstein
and Leon Black. It's not disputable. There is no disputing
(27:15):
how close these two were. There is no disputing how
connected they were financially either. The four hundred and fourteen
billion dollar firm is expected escape is expected to escape
the scandal with assets and client base Intact. Industry insiders
(27:35):
predict this is thanks to skillful handling, lucky timing, and
institution's reluctance to cut ties with or blacklist a powerful partner,
however distasteful they find its CEO's former choice of advisor.
And that tells you everything you need to know about
the financial sector. You see why I rail about these
(27:57):
scumbags on a regular basis. You see why they're so
connected in this Jeffrey Epstein case, It's because they're morally corrupt,
all of them. These are the same sons of bitches
that put it down for those predatory loans that your
cousin has, and your grandma or your friends while they're
(28:17):
living the high life popping that bubbly eating caviare from Russia.
And laughing at us the whole entire time. They're not
moving their money out of there because you know the
CEO was paling around with a pedophile. Come on, you
guys are gonna have to come harder than that, Like,
lose us some money then we'll talk. What an absolute joke.
(28:43):
Apollo never did business with Epstein, nor did the now
dead pedophile invest in its funds. Importantly, Black stress to clients,
there has never been an allegation by anyone, including The
New York Times, that I engaged in any wrongdoing or
in a appropriate conduct. Yeah, well, they're all scared. You'll
soothe them. Everybody's scared to talk about people like you.
(29:08):
The New York Times wants nothing to do with it.
We know the Post is scared. All of these hard
hitting institutions of journalism. Give me a break, bunch of
chump ass cowards. We've been on this podcast every day
for over a year, without missing a day, railing about
people like Leon Black, and now all of a sudden,
(29:30):
the New York Times comes to the party. Huh, pretty funny,
Pretty damn funny. And as far as him not engaging
in any wrongdoing, well yeah, none that we know of. Right, Nope.
Have you provided all of your financial statements for us
to see so we know you're not engaged in any wrongdoing?
Did you provide those financial statements to the investors or
(29:52):
are they just taking you on your word And the
only reason they're taking you on your word is because
you make money for them handover fist. Probably engaging in
all sorts of mischief, But that's where investors and industry
insiders might disagree. A half dozen shared their views on
the situation this week with institutional investor, including senior staff
(30:16):
at pension funds and a major foundation, fundraising experts, and
money managers. Most spoke on the condition of anonymity in
order to be candid on a delicate subject. Yeah. Look again,
I have friends in the financial sector too, and none
of them ever want to go on record. Look, they
all have cush ass jobs. They're all making six figures
(30:37):
or more. They don't want to screw with that. So yeah,
these people don't They don't want to go on record. Man,
they don't want to lose those those cush gigs. And
you see that here in this article, and I know
it for a fact with people in the final the
financial district. These people are just they're not. They're not
(30:57):
the kind of people that are going to go on
record and shit on somebody like Leon Black because he
wields extreme power in the financial sector, extreme power. Apollo
is a titan of global finance after all, and Black
it's inscrutable chieftain. There's no doubt Leon Black wields incredible
(31:21):
power in this sector and elsewhere. What you think the
guy that runs Apollo doesn't have all sorts of connections
all over the place, doesn't have lobbyists drooling all over
themselves to do his bidding. Hell yeah he does. And
more so, if you're coming out on the record against
Leon Black and you're working in the industrials, I mean,
(31:42):
and you're working in the financial sector, then you're really
putting yourself at jeopardy from a a professional standpoint, and
who knows about personally. Again, these these people are above it,
these people, that's a stretch too far. Sorry, what I
have seen since we've pulled back the curtain of polite
(32:04):
society has shown me all I need to know about
these people. No one interviewed suggested that Black broke the
law in his dealings with Epstein. Yeah, well, because nobody has.
Nobody knows right, we haven't seen the documentation, but I'll
tell you what from the circumstantial evidence that we have seen,
(32:24):
and from the fact that Jeffrey Epstein was a known
money launderer, that automatically, that automatically puts you on the
map and makes me suspicious of your behavior as well.
But to a person, these institutional investors felt that hiring
a convicted sex offender is inappropriate for the CEO of
(32:47):
a major public company, especially one responsible for billions of
dollars of public pensioners and charities money. Now, imagine you're
a police officer or a fireman, or somebody that's worked
in law enforcement your whole life, and you find out
the dude that's in charge of your pension, in charge
of the public dollars, hired a convicted child sex offender
(33:13):
in Jeffrey Epstein. You would be happy about that. As
an investor, I know I wouldn't be. I don't care
how much money Leon Black is making. There are plenty
of great financial institutions without scumbags like Leon Black. Well,
at least that well, those scumbags that aren't hanging out
with pedophiles. They might be scumbags financially, but at least
you're not hanging out with a pedophile and putting your
(33:34):
money with somebody like Jeffrey Epstein's buddy. I mean, are
you kidning me right now? I would really want to
look Leon in the eyes, said one alternatives investor who
has worked at elite institutions, and ask him, knowing that
this person had been charged with arguably one of the
worst crimes you can be charged with, why on earth
(33:55):
would you give this guy fifty million bucks? That's what
it comes down to, and nobody even has the courage
to ask Leon Black that. I would ask him that
if I seen this dude in the street, if I
saw this dude walking into his building or anywhere else,
I would ask him straight up. Look, man, why are
you giving a convicted sex offender fifty million dollars? There's
(34:18):
no other charities to donate that money to. There's no
poor people that need that money. You could have just
walked around, pick out a poor neighborhood in New York.
I'll give you one, South Yonkers. Go down to South
Yonkers off of Saratoga av And knock on doors and
tell people you're gonna pay their rent. That's doing something
for people. Given Jeffrey Epstein, your other rich buddy, fifty
(34:38):
or seventy five million dollars, what does that do for anybody?
And how does that benefit you? Because really, when it
comes down to it, mister Black, that's what it's all about,
isn't it your benefit? You increasing your wealth while the
rest of us gets shit on. I think there's an
(34:59):
amazing abil to segment values and objectives in this business.
Another veteran of the hedge fund world put it, after
triple checking that he wouldn't be quoted by name. It's
not my job to be a judge of moral values.
It's my job to optimize returns. And that is the thinking.
And I know it's hard for some people to imagine.
(35:20):
And if you are haven't been, you know, used to
the financial sector before this, it might come as a
shock to you that these people would put returns over
moral values. But that's the way it goes in the
financial sector. The almighty dollar completely and utterly corrupting these
(35:42):
people body and soul. You know, it's one thing right
to be good at your job. It's another thing to
be an absolute crook and know you're being a crook
while you're doing it. The sheer number of hyper successful
financiers and business leaders in Epstein's circle black high Bridge
(36:04):
Capital founder Glenn Dubin, Barclay's CEO, Jess Staley, former lingerie
magnate Les Wesner doesn't excuse any of them individually interview
he's felt, but implicates the whole industry culture. Yeah, no shit.
Now everybody wants to pay attention to the financial sector.
(36:24):
Now everybody has a problem. Where was everybody in two
thousand and eight, in two thousand and nine, where was
everybody all the way up until last year. Now, all
of a sudden, it's a big problem right now, All
of a sudden, there's a big issue with the culture
in the banking industry. It's been like that forever. Now
(36:49):
there's just public pressure for them to change it. That's
what happens with the Panama papers, the Paradise papers, the
Finsen files, Wiki leagues, dumps. That's why they're so important,
and that's why it's so important that whistleblowers are protected.
(37:10):
There's a tremendous amount of misogyny of shit bags in
this business, said the hedge fund vet, adding that he
gets exposed to unfiltered talk as a straight white man. Look,
I one hundred percent I have heard it with my
own ears, the way these people talk. And I'm not
talking about people on Leon Black's level. I'm talking about
(37:32):
you know, run of the mill traders and financiers, et cetera,
et cetera. It is a corrupt industry, an absolutely cutthroat,
take no prisoners, shit on everybody industry, and unless you're
a part of that club, you are not worthwhile Black's
(37:57):
personal spokesperson said the CEO simply didn't know about Epstein's
sexual criminality and wasn't comfortable with it when he found out,
which we addressed in the other article. That's absolute bullshit.
You don't got Google. You mean to tell me that
Leon Black, one of the richest men in the world,
doesn't know how to do a simple Google search. That's
what you would have me believe. Huh Okay, I guess so.
(38:20):
I mean, since you're telling me that's what I have
to believe, mister official narrative, then I guess that's what
I have to believe. I mean, really, are you kidding
me right now? Absolute bs, There is no chance on
this earth that Leon Black didn't know what Jeffrey Epstein was.
(38:40):
Mister Black was completely unaware of and continues to be
appalled by the reprehensible conduct that surfaced at the end
of twenty eighteen and led to federal criminal charges brought
against mister Epstein and deeply regrets having had any involvement
with him. Not a word about before that. What about
all the girls in Palm Beach, What about all the
girls Zoro Ranch? What about all the girls in New
(39:02):
York and in Palm Beach, in Paris? None of them matter,
how mister Black, None of it matters. Yohomie, secure the bag,
That's all that matters. Right. It's disgusting. I'm sick of it.
I'm sick of these people increasing their wealth hand over
fist while the rest of us can't even bring spoon
to mouth. The greatest transfer of wealth has just occurred
(39:26):
under our noses, while we were locked down in our homes, folks,
and nobody's saying shit about it. The US Virgin Islands
Attorney General is seeking information from mister Black, several major banks,
and others as third party witnesses in a civil probe
of entities set up by mister Epstein in the US
(39:46):
Virgin Islands. The spokesperson went on, mister Black intends to
cooperate fully with any such inquiry. Yeah, no shit, he's
being compelled to do so. Did he come forward on
his own and splashed the new and tell us all
about Jeffrey Epstein in his relationship, No, he didn't. He's
(40:07):
another one of these scumbags that wants this to go away,
that would never have brought this up if it wasn't
brought up. He doesn't care about the survivors, he doesn't
care about justice, and he doesn't care about moving the
narrative forward, not the narrative of justice. I mean, all
(40:28):
he cares about is making sure he saves face and
that he doesn't lose one single red scent. That is
what he cares about. But for all the personal queasiness
that Black's choice of financial advisor and reportedly frequent dinner
companion raises, no one foresees allocators doing much about it.
(40:49):
Apollo Global Management will be just fine, they felt. Yeah,
and again that's what we can expect from the financial sector.
What you think other serpents aren't going to our going
to abandoned the King of the serpents. Hell, no, this
is normalized behavior to them. They don't care. Means justifies
the end. If we're going to make more money, that's cool.
(41:09):
We don't care if we're with a sex offender, a pedophile.
How much money can we make? How many more cars
can we buy? How many more ninety million dollar mansions
do we need? That's what matters to these people. You
might see some very high integrity organizations say I don't
need this, suggested one senior nonprofit investor. I have looked
(41:31):
at Apollo and that's what I said. But the big
allocators will have a long relationship with them and a
lot of money invested. She and others predicted that clients
would only flee Apollo over Epstein if Black was charged
with a crime. There's no indication that's a possibility. That's
what they have in in parentheses here, and I disagree
(41:51):
with that. There's all kinds of indications that where there's smoke,
there's fire. You mean to tell me that if this
turns into a rico, that Black's going to be sleeping
well or is Black going to be on the phone
with mister I kept my underpants on. Dershowitz in a
frenzy trying to protect himself, calling every judge he knows
(42:13):
in the circuit, leaning on prosecutors, making sure that the
media doesn't run stories on them, you know, the usual shit. Well,
there is one thing that they weren't expecting, and that
was all of you and all of the content creators
out there that are thrown up double middle fingers to
(42:34):
these scumbags and making content, airing them out on a
regular basis, because that's what these people are there. Want
to be aristocracy. We don't have no nobles in America,
all right. These people want to be our rulers. They
want to be the people that make the decisions. Well,
they're in for a rude awakening at that point, she said.
(43:00):
Allocators can no longer make an excuse as one. As
one hedge fund trader guest. Bottom line, not much as
likely to happen other than black not having a public
or client facing profile for some time, the chaotic, polarized,
and pandemic racked reality of daily American life has deepened
(43:23):
the market power of the largest money managers. As individuals
and public entities teeter. The likes of Apollo, Goldman, Sachs,
and Blackstone have never been stronger. According to fundraising pro
Andrew Saunders, Doesn't that tell you everything you need to know?
Right there? Folks? What was I just talking about? They
keep getting richer, the wealth gap increases, They become more brazen,
(43:47):
they go on more crime sprees. Meanwhile, you and I
are told we don't have jobs anymore. Oh and by
the way, Congress, the Senate, they don't know what they
can't get it together. You're not getting no more on unemployment.
So I guess you can just eat cake. If that
doesn't fire you folks up on top of all this
other shit, I don't know what will. But the key
(44:10):
is you have to focus that anger. That rage, that anger,
that discontentment should not be focused on your neighbors or
somebody who votes differently than you. It should be focused
squarely on the people who created the circumstances, stances which
has led to this misery for so many people, and
(44:32):
people like Leon Black is right at the top of
my list when it comes to discuss bags who have
their foot on the throat of not only the American people,
but the middle class worldwide. We find ourselves in wartime conditions,
said Saunders, president of Castle Hill Capital Partners in an
(44:53):
interview Thursday. Major brands and establish relationships create an enormous
mode around your business. Yeah. Look, when you have that
kind of established relationship and you've made people billions, literally
billions of dollars, they're going to be willing to give
you the benefit of the doubt until they see the
evidence themselves literally see you commit the crime. And I
(45:16):
think it's gross. I think that there are other managers
that you can give your money to that don't have
pedophile friends that we know of anyway. But here we
are stuck with somebody like Leon Black, who was I
mean top notch boys with Jeffrey Epstein, and he's in
(45:37):
charge of all these billions and billions of dollars. Huh okay.
Institutional investors as a rule, hate scandal and bad press
brought on by their money managers and filter for it
so called headline risk when hiring them. But if a
prominent manager is going to have a nasty divorce or
(45:58):
associations with the sex crime, I'm a dredged up in
the paper of record, now's the ideal time. Look, I agree,
if I had money with Leon Black right now, I'd
be gone. If he was getting a divorce, I could
live with it. If there was allegations that he got
into a bar bra cool, I could live with it.
That has nothing to do with my money. But when
(46:18):
it comes to something as heinous as this, that's a
bridge too far for me, and that's a mountain where
I choose to die on, because look, man, if we
can't protect children, If we cannot protect children, then what
are we doing as a society. Let's just call it
a day and go straight mad, Max, Let's just skip
the bullshit and get right to it. If we're not
(46:39):
going to protect the weakest amongst us, but if we
want to be a society where people take our laws
seriously and people have faith in the system, well, at
the very least, we have to start here and start
rebuilding by taking down all of these scumbag oligarchs that
(47:00):
were in Epstein's orbit. If this was happening outside of
the political environment and a pandemic, this perhaps would be
this perhaps would be more significant than it is. Saunders said,
speaking in general terms, then that's what I've said about
the Jess Staley situation. Right, It hasn't gotten as big
of a tomahawk chop as it should. Because of the
(47:22):
pandemic and all of the other shit that's going on.
People don't have a shared sense of reality or a
shared sense of facts. Lies and accusations are hurled around
with tremendous frequency and speed. The President accused the governor
of killing babies the other day, and people just shrug
their shoulders. It's very difficult to figure out what's signal
(47:45):
and what's noise. Well, that is exactly why we have
this podcast, right, for us to wade through the bullshit
and get to the gold because we can't trust the
legacy media to do it. How long have we been
hanging on their every word? How long have we waited
for them to do their job and bring some justice
in this case or help to bring some justice in
(48:06):
this case. It took the Miami Herald having political motivations
to get involved for it to occur, and I have
to tell you it's disheartening. The result is you get desensitized, right,
You become desensitized to it all because there's so much
(48:29):
misery in the world, there's so much noise, there's so
much garbage that how can you process it all? And
if you sit around and you watch TV on a
regular basis, and you're watching the twenty four hour news
cycle and you're watching them pump that rage porn into
your homes, forget it. You're gonna think the world is
ending on a regular basis, and you're going to think
(48:49):
your neighbors want to kill you. That's legit the kind
of message that they're pumping right now, as opposed to
figuring out the stuff we get along on, the stuff
we agree on, and working from there. Nah, that's not
what they want to do. We're so desensitized to everything
that it's all about rage porn, and if it bleeds,
it leads. Allocators are inundated, he explained. Few are willing
(49:14):
to invest retire or endowment money with managers they've only
met on Zoom. Saunders has found even if an endowment
took great exception to for example, Black's relationship with Epstein
and the firm allowed them to cash out, pulling their
money create Pulling out their money creates another problem, where
would they put it. If allocators are unable to easily
(49:35):
go elsewhere and performance is quite strong, things can get lost.
Just from a self preservation standpoint, the brain can't react
to every last outrage. Well, this isn't just an outrage though.
This is about children again. See, I guess I look
at this differently than some people do. I guess a
crime to some people is a crime, But to me,
(49:56):
the worst possible crime you can commit is against a child,
the defenseless child. Are you kidding me? Right now? The
Black Epstein affairs landed in the lapse of institutional investors,
and they've broadly set it aside. But not all of
them are ignoring it. Ontario's new seventy billion Canadian seventy
(50:18):
billion dollars Canadian fifty two billion American investment arm for
provincial pension assets, i AMCO proudly committed a quarter of
a billion dollars to Apollo just this past spring, for example.
That deal still stands, but IMCO has put its partner
on notice. Well that's a good first step, right. How
(50:39):
about you pull all your money out and put it
somewhere else. But at least someone's putting this dude on blast.
I AMCO is aware of recent reports regarding mister Black's
alleged ties to Jeffrey Epstein, a spokesperson told the outlet Thursday.
We hold all of our partners and portfolio companies to
(50:59):
the highest ethical standards both in their private and professional conduct,
and take reputational, operational, and financial risks very seriously. So
let's see. Let's see what IMCO is about. Are they
all talk or are they going to walk the walk?
I have them on my list now to keep an
eye on translation smart enough please being institutional quality as
(51:25):
part of blue chip firms pitch to clients. Research shows
that performance tends to slip as assets balloon, but they
don't tend to embarrass their institutional clients. That's worth something.
But the Black Epstein Affairs suggests the trade may be
out of whack. Even if this episode isn't a fireable
offense under normal circumstances, what would an Apollo, Blackstone or
(51:49):
Bridgewater associates have to do to get to get the
acts and mass crimes industry industry experts agreed, big ones,
and that, my friends, is where the rico charges come in.
I say Leon black got charged with a rico charge,
(52:09):
it would be a wrap for him. There'd be no
chance that money would get pulled out of his firm
quicker than you can possibly imagine. There would be a
run on funds and they would be the end of
these people. Does the prosecution have the courage to do it?
(52:31):
At this point, a handful of investment giants have attracted
so much institutional capital wrapped up in such stringent terms
that firing them ceases to be a practical option. Lavish
fees are the carrot for good behavior, but what if
there's no more stick. A veteran from one alternatives investing
machine marveled at the dynamic. It's the worst form of
(52:52):
too big to fail. It really is sickening, isn't it.
And this story, the Jeffrey Epstein story, along with the
Panama papers and the Finsen files, all of this together
builds a very very disturbing picture of not only our
(53:14):
political ruling so called elite, but it's a damning expose
on the financial sector. If you'd like to contact me,
you can do that at Bobby Kapuchi at ProtonMail dot com.
That's b O b b Y c ap U c
c I at ProtonMail dot com. You can also find
(53:36):
me on Twitter at Bobby Underscore c ap U c
c I. You can All of the links for this
episode can be found in the description box. As for me,
I will be back later on and we will pick
the conversation up where we left it off. All right, everybody,
(53:56):
have a good one. I knew you
What's up everyone, and welcome back to the Epstein Chronicles. Tonight,
we're going to talk a little bit more about Leon
Black and the situation that he is facing. Now, when
you talk about a battle of the titans, when you
talk about two of the heaviest hitters in the financial industry,
(00:20):
you're definitely talking about Joshua Harris and Leon Black. These
two dudes built Apollo Global together and they have made
a lot of people a lot of money. Now, obviously
we're talking about big egos, right, So Harris and Leon Black.
(00:42):
Over the years, you know, they've had their falling outs,
They've grown apart, different opinions on how the company should
be run, obviously, a different opinion on if you should
be hanging out with Jeffrey Epstein or not as well.
So this has been kind of building for quite some time,
and it was all brought to a head when the
(01:04):
allegations about Jeffrey Epstein were unleashed. Now, if you were
following this case for a long time, then you knew
about the Leon Black connections, you knew about how deep
him and Epstein were together. But when everything came out
into the actual public eye and you had the new
York Times all over it and other outlets jumping on board. Well,
(01:29):
it got real, real fast. And both of these dudes
have huge egos. They both wanted control of Apollo, and
with the fallout hanging over Black, Harris looked at it
as the best opportunity to push him out the door.
Unfortunately for Harris, it didn't work out the way that
(01:50):
he thought. He thought when they got rid of Black,
that he'd take over, he'd be the big man. Instead,
it was Rowan, who had been basickly retired at the time.
They called him in off the sidelines. That's how much
Black didn't have faith in Harris to handle things. So
they bring Rowan in and obviously Harris is not happy
(02:11):
about it at all. And we're at the point now
where the animosity is so bitter that you have Leon Black,
one of the most powerful, well connected big shots in
the financial world, going after another big shot almost just
as big and saying he's involved in a racketeering case
(02:35):
and he's working hand in hand with Leon Black's accuser. Yo,
this is a big charge here, and if imagine, if it,
you know what this is going to be like if
they get to court, some sort of Discovery, and I
can only imagine the high power lawyers we're going to
see employed here. I'm talking these are no nonsense, cutthroat
(02:57):
make Glaine Maxwell's lawyers look like nice people types. These
are not the kind of people that mess around. They
are the kind of people that will ruin you. And
Harris and Leon Black are legit alpha predators, top of
the full food chain type folk when it comes to
their industry. Now, that doesn't mean they're good people, right
(03:19):
for Harris's part, at least he hasn't been accused of
hanging out with Epstein. But when we get to discussing
folks like this and people who have achieved this level
of financial power, they're not wired the same way that
we are. They think a completely different way, and it
is an all or nothing game for them, and they
(03:42):
legit look to destroy people who they feel like have
crossed them. And now what we're witnessing here is a
huge back room, boardroom fight that is now spilled over
into the public view. And those of us who don't
work in the financial sector, or maybe are not too
(04:03):
familiar with the financial sector, we're getting a little peak
behind the curtain of what it looks like when two
heavy hitters go head to head over something like control
of an entity such as Apollo Global, who up until
the Epstein stuff, was just steamrolling its competition. Now they're
still making gains, but when you look at them relatively
(04:26):
speaking and compare them with some of their competitors, they're
not steam rolling the way they used to. And it
all stems from this situation. So let's take a look
over here at Financial Times and let's see what author
Suji Endop has to say. Headline, Leon Black says former
(04:49):
Apollo protege conspiring to destroy him. Court papers claim Joshua
Harris orchestrated a plot targeting the private equity kingpin after
he was passed over for CEO job. I mean, what
is this the rule of two? And these guys are
the sith. I have to become the most evil of
the evil people, so I have to get rid of
(05:10):
Leon Black to you know, ascend my throne. Take it easy, Palpatine.
Leon Black is accused as former Lieutenant Joshua Harris of
orchestrating a conspiracy to retaliate and destroy him after Harris
was denied the chance to succeed Black as chief executive
of Apollo Global Management, according to court papers filed in
(05:34):
New York on Monday. So Black is not wasting any time,
He's not wasting any words. He's going all in here. Look,
you're involved in a conspiracy. Okay, you're involved in a
Rico case, is basically what he's saying. And you're looking
to extort me and throw some more dirt on my name,
so you look better and I look worse and your
(05:55):
position is solidified while I'm over here existing in quick sand.
That's what's going on here, and it is going to
be fireworks, folks. I mean, this is like pay per
view watching these two dudes battle it out. According to
the papers, when Apollo selected Mark Rowan, another top executive,
(06:16):
to replace Black, in the wake of an independent report
detailing Black's relationship with the late pedophile Jeffrey Epstein, mister
Harris kicked into high gear his campaign to destroy mister Black.
Like Shakespeare's Iago, enraged by being passed over for promotion,
he turned his wrath on his mentor and leader. So
(06:36):
right away, they're trying to set things up in a
certain light and grip this narrative. They're setting it up,
meaning Black's people as Josh Harris is the villain here,
Leon Black is the innocent bystander, and all of this
is just Josh Harris looking to take over the company. Meanwhile,
(06:57):
they're leaving out the key fact that this is all
about Jeffrey Epstein. That's how this all started. Now, I'm
not gonna sit here and tell you for one second
that Harris isn't leveraging this situation. He most certainly is,
just like Edward Bramson leveraged the situation over at Barclays
with Jess Staley. This is what happens in these boardrooms.
(07:19):
And when I tell you it's like Game of Thrones,
I am not kidding you, folks. The backstabbing, the wheeling,
the dealing. Every boardroom has their version of Vari's. It's
insane and just from my little experience dealing with it
for the little bit of time that you know, I
dip my toes is it's a wild, wild experience. The
(07:39):
way things work in the financial sector and these boardrooms,
it's cutthroat as hell. Everybody is looking for that, you know,
place of power. Everyone's looking to move up the food chain,
and you can put that into overdrive when you're talking
about people like Josh Harris and Leon Black, and what
(08:00):
they're having you want, well, I mean, what Black's people
will have you believe is that Black was the you know,
the mentor, the man who taught Harris everything he knows
and then Harris betrayed him, when in reality, the bigger
picture is a lot more murky than that. And Harris
can easily just say, and that's what he has said,
and that's what I would say if I was him,
(08:22):
that this is all about Epstein. He should continue on
that tract, even if he might not, you know, that's
not the whole reason behind it. That's a winning argument, right,
especially in today's climate. Black has previously filed a complaint
alleging a racketeering conspiracy and naming his former mistress, Guzelle
(08:43):
Ganiyeva and the law firm Wigdor. Can we just talk
for a moment how everybody out here is filing all
kinds of racketeering conspiracy charges. You get conspiracy charges, you
get a racketeering charge, you're getting a RICO charge, but
not for Glenwell, how is it that Glaine Maxwell isn't
(09:04):
getting blasted with rico? You see Wigdor getting hit with
rico by Leon Black. Does Leon Black have more pull
than the federal government? Now, obviously it's a civil rico charge, right,
but still, why would they not use that tool and
leave it in their toolbox. Monday's amended lawsuit adds Harris
(09:27):
and New York Public's Relations of New York Public Relations
Titan Steven Rubinstein as defendants. Harris is accused of weaponizing
Miss Ganieva to assassinate Black's character. And now let's remember
Harris is also also has a presence in the sports world,
owns a couple of sports teams, the seventy six ers.
He might have something to do with the Devils. I
(09:48):
believe he has some in on a soccer team as well.
The dude is, you know, a very powerful man. So
it's not like Black is punching down this time, which
is you know something that is shocking to me. They
love to punch down usually, but every now and then
they get into the ring with somebody that's in their
weight class. And while I don't know what the result
(10:13):
is going to be here, if Leon Black thinks he's
going to litigate himself out of this, meaning litigate Joshua
Harris into the poorhouse, he's in for a long, long day,
and I'm pretty sure he knows that as well. He
understands that Harris is nobody to trifle with. So my
guess is that Leon Black really believes that this is
(10:33):
a life or death struggle, meaning his professional life, and
that if he doesn't employ all of the big guns
and go all the way, then he is literally going
to be destroyed forever. Kanieva has been suing Black since
last spring, alleging the billionaires sexually abused her during their
(10:55):
relationship and then damaged her her reputation by publicly accus
using her of extortion. Black has denied those charges, describing
them as defamatory. He also said that she, you know,
flew him to go see I mean she flew with
him to go see Jeffrey Epstein where she was offered
to Jeffrey Epstein. Now, again, we don't have anything to
(11:18):
corroborate any of that. Nothing. I wasn't there. I can't
say to you, Oh yeah, that definitely happened. But does
it fit the pattern? Does it fit them? Oh? It
certainly does. As for mister Harris and his cohort, the
latest court papers alleged their goal has been clear from
the outset. But it was their decision to join forces
(11:39):
with guselle Ganieva, to make common cause with an extortionist,
to use social media and modern technology to further it,
to further their attempt to retaliate against mister Black. I
mean really, and that's you see, this is what they do, right,
Everything's about social media and oh they're using the media
(11:59):
to destroy the these people. All you have to do
is a simple search in the media, go to Google
or Baying or Duck Duck, go wherever you get your news,
and there's two or three articles relating to the story.
So there's really not this media thest following what's going
on with Josh Harris and Leon Black. Unless you follow
the financial world or you're following the Jeffrey Epstein case,
(12:22):
you really don't care about what's going on with these
two idiots. According to Black, Harris convened the war Council
that sounds serious of three prominent public relation firms Rubinstein, Berlin, Rosen,
and Finsbury Glover Herring, as well as multiple law firms,
first to press his interest in succeeding Black and then
(12:43):
later to destroy mister Black in retaliation and retribution. So
what they're gonna do here is they're gonna try and piggyback.
They're gonna say that these groups that were brought together
for Harris to try and push his claim, will call
it a claim since it's like game of thrones, right
for his claim on the throne at Apollo, he brings
all of these groups together, raises his banners, if you will,
(13:05):
And then it was to try and promote him, he says,
to get to this position. Well, after all is said
and done and Harris misses out on the throne, well
you have Black now, who is asserting that these people
were brought together not only to try and push his position,
but to also figure out a game plan to try
(13:27):
and destroy Black because he didn't get the position. That
is what Black and his team are asserting. And again
it's a big, big accusation. My guess is that Leon
Black and his team know what they're doing, and they
probably have some sort of what they think is evidence,
But I don't know. This is going to be a
very tough one for them. According to the lawsuits, some
(13:52):
of these external advisors were allegedly also representing Apollo. The
War Council obsessively tracked public descis cushions of mister Harris,
and critically, mister Blackett claims, I wonder who the hand
of the king was, mister Rubinstein. Maybe I know he's
named in court papers. So if mister Harris is the king,
then I guess Rubenstein was the hand of the king here.
(14:14):
I mean, it's honestly fascinating what happens in these boardrooms
when you get to a certain level and you're dealing
with powerbrokers such as this, men who can piss away
one hundred and fifty eight million dollars to a guy
like Jeffrey Epstein for quote unquote advice. There's all kinds
of wild shit happen in those boardrooms. The public relations
(14:36):
advisors also advisors tracked top keyword searches associated with them,
the geographic source of searches, the number of hits on
Wikipedia pages, even the time of day of news hits
mentioning the men. According to the papers, evans Zemski, an
Apollo employee who worked for Harris, wrote in an email
only us Slack when communicating with Josh, in an attempt
(14:59):
to keep internal meetings and communications closely guarded secrets. So
they were engaging in their you know, their coup hero
or whatever you want to call it, their takedown of Black,
according to Black's people, and they were only using the
app slack when doing so to keep everything on the hush.
You know, you can't spring a trap if everybody knows, right,
(15:22):
So they were looking to keep things on the hush,
keep things under wraps until they were ready to go
into action. They wanted to have you know, surprise on
their side. Black accuses Harris of having been long been
interested in running Apollo, claiming he asked Black for the
top job as far back as twenty fifteen. After being
(15:43):
passed over, mister Harris and his confederates made it their
business to frame and spread miss Ganiheva's lies, potentially extorting
more money for her while destroying mister Black, the lawsuit claims,
And again, let's remember that Leon Black was engaged in
a relationship with Miss Ganieva. That much is not disputable.
He's admitted it. He was engaged in this relationship while
(16:07):
he had a sick wife. By the way, but nah,
he's not capable of being an abusive, sadistic guy. Huh.
Imagine having a sick wife or a sick significant other
and cheating on them. When my soulmate, my life partner,
was sick with breast cancer and she was going through
chemo and radiation, and the last thing I ever thought
about was stepping out on her or anything like that.
(16:30):
I was so concerned about her getting better, so concerned
about making sure she was comfortable. And you got this
asshole running around, you know, creeping with women, and then
after the fact, acting like, you know, he's the victim.
It really offends the senses. Honestly, the notion that mister
(16:50):
Harris was motivated by anything other than the best interests
of the company is false. Black's relationship with Epstein was disqualifying,
plain and simple. And that's where I'm at as well.
Now again, I'm not going to sit here and be
a champion for Joshua Harris. I don't know the man
who knows what he's up to When you know, the
lights are off and the doors are closed and he's
(17:11):
swimming around in his banana hammock in his millions of dollars,
who knows what he's up to? But in this case,
he's not wrong about this. They added that Harris supported
Rowan's appointment is CEO and remains the firm's second largest shareholder.
Apollo declined to comment. Well, Harris isn't stupid. He didn't
become a bazillion trillionaire by cutting bait and losing out
(17:33):
on big investments. And when you look at Apollo, there's
a lot of money to be made there, so you
know that he's not just going to sell, especially if
he's forecasting that more money is on the horizon, and
you know it is. These scumbags are always up to
their you know, hairline in other people's money. Evan Farber,
an attorney for Rubinstein, said in a previous statement that
(17:56):
mister Rubinstein and his firm had that absolutely no relielationship
with miss Ganieva past present, formal or informal. Farbar added,
they have not They have never met or communicated with
her or any of her representatives. These and the rest
of the claims filed by mister Black's attorneys after a concocted,
(18:16):
ever evolving conspiracy theory packed with false information, are not
based in reality. Genie Christiansen, a partner at Wigdor who
represents Ganieva, said Leon Black has taken victim shaming of
sexual assault victims to a stratospheric stratospheric level. By blaming
and shaming miss Ganieva for her status as a sexual
(18:37):
assault victim, Black is showing that he is no titan
to be revered, but is a simple coward. Hey, look,
she's not wrong, right, Look who's gonna revere this guy
at this point? Again, even if there weren't the claims
of his sadistic and violent nature with Miss Ganieva, any
dude that's stepping out on their girl, or any woman
(18:58):
who's stepping out on their man for that matter, and
they're sick, I have zero respect for that. You add
all the other stuff to it, and this dude definitely
makes the wall of shame over here at the Epstein Chronicles, folks.
Just another one of these men in the financial sector
who thinks they can get away with whatever they want.
(19:18):
And then when they're finally called on the carbet, when
it's finally time for them to answer the accusations laid
against them, they can't even take responsibility. Then it's everybody
else's fault. It's a grand conspiracy to ruin me. Well,
Leon Black, you've done a fine job of ruining yourself,
(19:40):
all right, folks. That's gonna do it for tonight. I
will be back tomorrow morning with the morning update, few
contact episodes in between. Hope that all you folks have
a great night. If you'd like to contact me, you
can do that at Bobby Kapuci at ProtonMail dot com.
That's bo b b Y cap use Cci at ProtonMail
(20:01):
dot com. You can also find me on Twitter at
bo bbuy underscore c ap Ucci. The link that we
discussed can be found in the description box eight. We're
gonna talk a little bit more about Leon Black today, folks,
and add some more context. Last time we spoke about
Leon Black, he was responding to the New York Times
(20:25):
article about his relationship with Jeffrey Epstein, and he sent
an email out to the to investors trying to assuge them,
trying to make them not so worried about things. But
now we're hearing behind the scenes that investors are judging him.
(20:47):
See what happens is you become radioactive when you have
the stink of a child sex predator all over you,
and that's what mister Black has. He was very close
to Jeffrey Epstein, very very very very much. Someone involved
with Jeffrey Epstein financially and somebody that these investors understand
(21:14):
is not the kind of guy that you want at
the head of the company that's in charge of your money.
The problems for Leon Black have just begun, folks. His
name has just begun to get thrown around in the
mainstream about this case. Those of us who have been
following it, and I'm guessing pretty much everybody out there
(21:36):
listening to the podcast at this point has known about
Leon Black and his relationship with Jeffrey Epstein for quite
some time. But now it's finally getting out there into
the mainstream. It's finally getting out there where people understand
the sort of power players that were involved. We're not
(21:57):
talking about one or two sick people here. We're talking
about an intercontinental ring of disgustingly rich, disgusting perverts. Now again,
nobody's saying that Leon Black was involved in the direct
abuse of these girls, But his financial relationship with Jeffrey
(22:18):
Epstein and the transactions between the two, Yeah, that brings
you into the the atmosphere, that brings you into the web.
And if you were involved financially moving money for this man,
hiding money for this man, doing trade offs with this man, financially, well,
(22:40):
you can expect yourself to be caught up in a
Rico case because from all signs, that's where this is going.
And we already have a civil reco case going on
down in the Virgin Islands. So it's just a matter
of time now in my opinion, before we see a
(23:02):
real reco case. And when that occurs, when criminal indictments
start dropping Rico indictments to people that were enabling Jeffrey Epstein,
then you know that this case has really kicked it
into overdrive. Now again I've said before, do I expect
all of that to happen? I am not so naive
(23:24):
to have that kind of faith in the government, right.
I think that for sure the core four plus Indike
and Khan are in serious jeopardy of going to prison.
But after that, as far as the enablers go, that's
all going to come down to how much courage these
prosecutors have and how far they want to take this,
(23:49):
Because if they're looking to really get some big feathers
in their cap, if they're looking to go big game hunting, well,
my friends, this is the reserve to do it. In
we know that these prosecutors like to go after the
biggest fish in the pond, and who's a bigger fish
than someone like Leon Black or Glen Dubin or Bill Richardson.
(24:11):
So there, if they want to go after those people,
the way to do it is financially. The question remains
will the prosecution have the courage to do so? Anyway? Today,
in this article, it is about how the investors are
now judging Leon Black after that email. So this is
(24:35):
in response to the email that Leon Black sent out
that we discussed a few days ago. Let's jump into
this article from the Institutional Investor dot com and see
what they have going on. Apollos, leon Black paid Jeffrey
Epstein millions. Investors are privately judging him, but they're not
about to pull money from Apollo author Leanna or And
(25:00):
that's really what it comes down to, right, That's the cold,
disgusting truth of it for these investors. For these people,
it's all about the money. And even if Leon Black
has ties to Jeffrey Epstein or Leon Black is tainted
by Jeffrey Epstein, you're gonna have some people in the
financial sector who look the other way, because hey, it's
(25:24):
all about increasing their wealth, increasing their power, increasing their status,
and if they have to ride Leon Black's back to
do so, they'll That's exactly what they're going to do.
But the good thing is the public is not going
to let Leon Black get away with it. The public
(25:46):
is not going to sit by while another rich son
of a bitch avoids scrutiny. Investors in Apollo Global Management
knew that founder Leon Black had a Jeffrey Epstein problem.
This week, it became a problem once again when a
New York Times investigation revealed new details about Black's relationship
(26:10):
with the convicted sex offender, the scope of their financial ties,
and Black's bat channels for funneling money to Epstein. These
payments aren't in dispute, so there's Look, there's no dispute
that this occurred, that Black and Epstein had this relationship.
All of this money, up to seventy five million dollars
(26:31):
flipped around, moved around, moved into charitable organizations LLCs, et cetera,
et cetera, and nobody is ever held responsible for any
of it. It is true that I paid mister Epstein
millions of dollars annually for his work, which he provided
(26:52):
twenty twelve to twenty seventeen Black wrote to Apollo clients Monday.
We talked about that as well, about the massive amount
of money and the real close relationship between Jeffrey Epstein
and Leon Black. It's not disputable. There is no disputing
(27:15):
how close these two were. There is no disputing how
connected they were financially either. The four hundred and fourteen
billion dollar firm is expected escape is expected to escape
the scandal with assets and client base Intact. Industry insiders
(27:35):
predict this is thanks to skillful handling, lucky timing, and
institution's reluctance to cut ties with or blacklist a powerful partner,
however distasteful they find its CEO's former choice of advisor.
And that tells you everything you need to know about
the financial sector. You see why I rail about these
(27:57):
scumbags on a regular basis. You see why they're so
connected in this Jeffrey Epstein case, It's because they're morally corrupt,
all of them. These are the same sons of bitches
that put it down for those predatory loans that your
cousin has, and your grandma or your friends while they're
(28:17):
living the high life popping that bubbly eating caviare from Russia.
And laughing at us the whole entire time. They're not
moving their money out of there because you know the
CEO was paling around with a pedophile. Come on, you
guys are gonna have to come harder than that, Like,
lose us some money then we'll talk. What an absolute joke.
(28:43):
Apollo never did business with Epstein, nor did the now
dead pedophile invest in its funds. Importantly, Black stress to clients,
there has never been an allegation by anyone, including The
New York Times, that I engaged in any wrongdoing or
in a appropriate conduct. Yeah, well, they're all scared. You'll
soothe them. Everybody's scared to talk about people like you.
(29:08):
The New York Times wants nothing to do with it.
We know the Post is scared. All of these hard
hitting institutions of journalism. Give me a break, bunch of
chump ass cowards. We've been on this podcast every day
for over a year, without missing a day, railing about
people like Leon Black, and now all of a sudden,
(29:30):
the New York Times comes to the party. Huh, pretty funny,
Pretty damn funny. And as far as him not engaging
in any wrongdoing, well yeah, none that we know of. Right, Nope.
Have you provided all of your financial statements for us
to see so we know you're not engaged in any wrongdoing?
Did you provide those financial statements to the investors or
(29:52):
are they just taking you on your word And the
only reason they're taking you on your word is because
you make money for them handover fist. Probably engaging in
all sorts of mischief, But that's where investors and industry
insiders might disagree. A half dozen shared their views on
the situation this week with institutional investor, including senior staff
(30:16):
at pension funds and a major foundation, fundraising experts, and
money managers. Most spoke on the condition of anonymity in
order to be candid on a delicate subject. Yeah. Look again,
I have friends in the financial sector too, and none
of them ever want to go on record. Look, they
all have cush ass jobs. They're all making six figures
(30:37):
or more. They don't want to screw with that. So yeah,
these people don't They don't want to go on record. Man,
they don't want to lose those those cush gigs. And
you see that here in this article, and I know
it for a fact with people in the final the
financial district. These people are just they're not. They're not
(30:57):
the kind of people that are going to go on
record and shit on somebody like Leon Black because he
wields extreme power in the financial sector, extreme power. Apollo
is a titan of global finance after all, and Black
it's inscrutable chieftain. There's no doubt Leon Black wields incredible
(31:21):
power in this sector and elsewhere. What you think the
guy that runs Apollo doesn't have all sorts of connections
all over the place, doesn't have lobbyists drooling all over
themselves to do his bidding. Hell yeah he does. And
more so, if you're coming out on the record against
Leon Black and you're working in the industrials, I mean,
(31:42):
and you're working in the financial sector, then you're really
putting yourself at jeopardy from a a professional standpoint, and
who knows about personally. Again, these these people are above it,
these people, that's a stretch too far. Sorry, what I
have seen since we've pulled back the curtain of polite
(32:04):
society has shown me all I need to know about
these people. No one interviewed suggested that Black broke the
law in his dealings with Epstein. Yeah, well, because nobody has.
Nobody knows right, we haven't seen the documentation, but I'll
tell you what from the circumstantial evidence that we have seen,
(32:24):
and from the fact that Jeffrey Epstein was a known
money launderer, that automatically, that automatically puts you on the
map and makes me suspicious of your behavior as well.
But to a person, these institutional investors felt that hiring
a convicted sex offender is inappropriate for the CEO of
(32:47):
a major public company, especially one responsible for billions of
dollars of public pensioners and charities money. Now, imagine you're
a police officer or a fireman, or somebody that's worked
in law enforcement your whole life, and you find out
the dude that's in charge of your pension, in charge
of the public dollars, hired a convicted child sex offender
(33:13):
in Jeffrey Epstein. You would be happy about that. As
an investor, I know I wouldn't be. I don't care
how much money Leon Black is making. There are plenty
of great financial institutions without scumbags like Leon Black. Well,
at least that well, those scumbags that aren't hanging out
with pedophiles. They might be scumbags financially, but at least
you're not hanging out with a pedophile and putting your
(33:34):
money with somebody like Jeffrey Epstein's buddy. I mean, are
you kidning me right now? I would really want to
look Leon in the eyes, said one alternatives investor who
has worked at elite institutions, and ask him, knowing that
this person had been charged with arguably one of the
worst crimes you can be charged with, why on earth
(33:55):
would you give this guy fifty million bucks? That's what
it comes down to, and nobody even has the courage
to ask Leon Black that. I would ask him that
if I seen this dude in the street, if I
saw this dude walking into his building or anywhere else,
I would ask him straight up. Look, man, why are
you giving a convicted sex offender fifty million dollars? There's
(34:18):
no other charities to donate that money to. There's no
poor people that need that money. You could have just
walked around, pick out a poor neighborhood in New York.
I'll give you one, South Yonkers. Go down to South
Yonkers off of Saratoga av And knock on doors and
tell people you're gonna pay their rent. That's doing something
for people. Given Jeffrey Epstein, your other rich buddy, fifty
(34:38):
or seventy five million dollars, what does that do for anybody?
And how does that benefit you? Because really, when it
comes down to it, mister Black, that's what it's all about,
isn't it your benefit? You increasing your wealth while the
rest of us gets shit on. I think there's an
(34:59):
amazing abil to segment values and objectives in this business.
Another veteran of the hedge fund world put it, after
triple checking that he wouldn't be quoted by name. It's
not my job to be a judge of moral values.
It's my job to optimize returns. And that is the thinking.
And I know it's hard for some people to imagine.
(35:20):
And if you are haven't been, you know, used to
the financial sector before this, it might come as a
shock to you that these people would put returns over
moral values. But that's the way it goes in the
financial sector. The almighty dollar completely and utterly corrupting these
(35:42):
people body and soul. You know, it's one thing right
to be good at your job. It's another thing to
be an absolute crook and know you're being a crook
while you're doing it. The sheer number of hyper successful
financiers and business leaders in Epstein's circle black high Bridge
(36:04):
Capital founder Glenn Dubin, Barclay's CEO, Jess Staley, former lingerie
magnate Les Wesner doesn't excuse any of them individually interview
he's felt, but implicates the whole industry culture. Yeah, no shit.
Now everybody wants to pay attention to the financial sector.
(36:24):
Now everybody has a problem. Where was everybody in two
thousand and eight, in two thousand and nine, where was
everybody all the way up until last year. Now, all
of a sudden, it's a big problem right now, All
of a sudden, there's a big issue with the culture
in the banking industry. It's been like that forever. Now
(36:49):
there's just public pressure for them to change it. That's
what happens with the Panama papers, the Paradise papers, the
Finsen files, Wiki leagues, dumps. That's why they're so important,
and that's why it's so important that whistleblowers are protected.
(37:10):
There's a tremendous amount of misogyny of shit bags in
this business, said the hedge fund vet, adding that he
gets exposed to unfiltered talk as a straight white man. Look,
I one hundred percent I have heard it with my
own ears, the way these people talk. And I'm not
talking about people on Leon Black's level. I'm talking about
(37:32):
you know, run of the mill traders and financiers, et cetera,
et cetera. It is a corrupt industry, an absolutely cutthroat,
take no prisoners, shit on everybody industry, and unless you're
a part of that club, you are not worthwhile Black's
(37:57):
personal spokesperson said the CEO simply didn't know about Epstein's
sexual criminality and wasn't comfortable with it when he found out,
which we addressed in the other article. That's absolute bullshit.
You don't got Google. You mean to tell me that
Leon Black, one of the richest men in the world,
doesn't know how to do a simple Google search. That's
what you would have me believe. Huh Okay, I guess so.
(38:20):
I mean, since you're telling me that's what I have
to believe, mister official narrative, then I guess that's what
I have to believe. I mean, really, are you kidding
me right now? Absolute bs, There is no chance on
this earth that Leon Black didn't know what Jeffrey Epstein was.
(38:40):
Mister Black was completely unaware of and continues to be
appalled by the reprehensible conduct that surfaced at the end
of twenty eighteen and led to federal criminal charges brought
against mister Epstein and deeply regrets having had any involvement
with him. Not a word about before that. What about
all the girls in Palm Beach, What about all the
girls Zoro Ranch? What about all the girls in New
(39:02):
York and in Palm Beach, in Paris? None of them matter,
how mister Black, None of it matters. Yohomie, secure the bag,
That's all that matters. Right. It's disgusting. I'm sick of it.
I'm sick of these people increasing their wealth hand over
fist while the rest of us can't even bring spoon
to mouth. The greatest transfer of wealth has just occurred
(39:26):
under our noses, while we were locked down in our homes, folks,
and nobody's saying shit about it. The US Virgin Islands
Attorney General is seeking information from mister Black, several major banks,
and others as third party witnesses in a civil probe
of entities set up by mister Epstein in the US
(39:46):
Virgin Islands. The spokesperson went on, mister Black intends to
cooperate fully with any such inquiry. Yeah, no shit, he's
being compelled to do so. Did he come forward on
his own and splashed the new and tell us all
about Jeffrey Epstein in his relationship, No, he didn't. He's
(40:07):
another one of these scumbags that wants this to go away,
that would never have brought this up if it wasn't
brought up. He doesn't care about the survivors, he doesn't
care about justice, and he doesn't care about moving the
narrative forward, not the narrative of justice. I mean, all
(40:28):
he cares about is making sure he saves face and
that he doesn't lose one single red scent. That is
what he cares about. But for all the personal queasiness
that Black's choice of financial advisor and reportedly frequent dinner
companion raises, no one foresees allocators doing much about it.
(40:49):
Apollo Global Management will be just fine, they felt. Yeah,
and again that's what we can expect from the financial sector.
What you think other serpents aren't going to our going
to abandoned the King of the serpents. Hell, no, this
is normalized behavior to them. They don't care. Means justifies
the end. If we're going to make more money, that's cool.
(41:09):
We don't care if we're with a sex offender, a pedophile.
How much money can we make? How many more cars
can we buy? How many more ninety million dollar mansions
do we need? That's what matters to these people. You
might see some very high integrity organizations say I don't
need this, suggested one senior nonprofit investor. I have looked
(41:31):
at Apollo and that's what I said. But the big
allocators will have a long relationship with them and a
lot of money invested. She and others predicted that clients
would only flee Apollo over Epstein if Black was charged
with a crime. There's no indication that's a possibility. That's
what they have in in parentheses here, and I disagree
(41:51):
with that. There's all kinds of indications that where there's smoke,
there's fire. You mean to tell me that if this
turns into a rico, that Black's going to be sleeping
well or is Black going to be on the phone
with mister I kept my underpants on. Dershowitz in a
frenzy trying to protect himself, calling every judge he knows
(42:13):
in the circuit, leaning on prosecutors, making sure that the
media doesn't run stories on them, you know, the usual shit. Well,
there is one thing that they weren't expecting, and that
was all of you and all of the content creators
out there that are thrown up double middle fingers to
(42:34):
these scumbags and making content, airing them out on a
regular basis, because that's what these people are there. Want
to be aristocracy. We don't have no nobles in America,
all right. These people want to be our rulers. They
want to be the people that make the decisions. Well,
they're in for a rude awakening at that point, she said.
(43:00):
Allocators can no longer make an excuse as one. As
one hedge fund trader guest. Bottom line, not much as
likely to happen other than black not having a public
or client facing profile for some time, the chaotic, polarized,
and pandemic racked reality of daily American life has deepened
(43:23):
the market power of the largest money managers. As individuals
and public entities teeter. The likes of Apollo, Goldman, Sachs,
and Blackstone have never been stronger. According to fundraising pro
Andrew Saunders, Doesn't that tell you everything you need to know?
Right there? Folks? What was I just talking about? They
keep getting richer, the wealth gap increases, They become more brazen,
(43:47):
they go on more crime sprees. Meanwhile, you and I
are told we don't have jobs anymore. Oh and by
the way, Congress, the Senate, they don't know what they
can't get it together. You're not getting no more on unemployment.
So I guess you can just eat cake. If that
doesn't fire you folks up on top of all this
other shit, I don't know what will. But the key
(44:10):
is you have to focus that anger. That rage, that anger,
that discontentment should not be focused on your neighbors or
somebody who votes differently than you. It should be focused
squarely on the people who created the circumstances, stances which
has led to this misery for so many people, and
(44:32):
people like Leon Black is right at the top of
my list when it comes to discuss bags who have
their foot on the throat of not only the American people,
but the middle class worldwide. We find ourselves in wartime conditions,
said Saunders, president of Castle Hill Capital Partners in an
(44:53):
interview Thursday. Major brands and establish relationships create an enormous
mode around your business. Yeah. Look, when you have that
kind of established relationship and you've made people billions, literally
billions of dollars, they're going to be willing to give
you the benefit of the doubt until they see the
evidence themselves literally see you commit the crime. And I
(45:16):
think it's gross. I think that there are other managers
that you can give your money to that don't have
pedophile friends that we know of anyway. But here we
are stuck with somebody like Leon Black, who was I
mean top notch boys with Jeffrey Epstein, and he's in
(45:37):
charge of all these billions and billions of dollars. Huh okay.
Institutional investors as a rule, hate scandal and bad press
brought on by their money managers and filter for it
so called headline risk when hiring them. But if a
prominent manager is going to have a nasty divorce or
(45:58):
associations with the sex crime, I'm a dredged up in
the paper of record, now's the ideal time. Look, I agree,
if I had money with Leon Black right now, I'd
be gone. If he was getting a divorce, I could
live with it. If there was allegations that he got
into a bar bra cool, I could live with it.
That has nothing to do with my money. But when
(46:18):
it comes to something as heinous as this, that's a
bridge too far for me, and that's a mountain where
I choose to die on, because look, man, if we
can't protect children, If we cannot protect children, then what
are we doing as a society. Let's just call it
a day and go straight mad, Max, Let's just skip
the bullshit and get right to it. If we're not
(46:39):
going to protect the weakest amongst us, but if we
want to be a society where people take our laws
seriously and people have faith in the system, well, at
the very least, we have to start here and start
rebuilding by taking down all of these scumbag oligarchs that
(47:00):
were in Epstein's orbit. If this was happening outside of
the political environment and a pandemic, this perhaps would be
this perhaps would be more significant than it is. Saunders said,
speaking in general terms, then that's what I've said about
the Jess Staley situation. Right, It hasn't gotten as big
of a tomahawk chop as it should. Because of the
(47:22):
pandemic and all of the other shit that's going on.
People don't have a shared sense of reality or a
shared sense of facts. Lies and accusations are hurled around
with tremendous frequency and speed. The President accused the governor
of killing babies the other day, and people just shrug
their shoulders. It's very difficult to figure out what's signal
(47:45):
and what's noise. Well, that is exactly why we have
this podcast, right, for us to wade through the bullshit
and get to the gold because we can't trust the
legacy media to do it. How long have we been
hanging on their every word? How long have we waited
for them to do their job and bring some justice
in this case or help to bring some justice in
(48:06):
this case. It took the Miami Herald having political motivations
to get involved for it to occur, and I have
to tell you it's disheartening. The result is you get desensitized, right,
You become desensitized to it all because there's so much
(48:29):
misery in the world, there's so much noise, there's so
much garbage that how can you process it all? And
if you sit around and you watch TV on a
regular basis, and you're watching the twenty four hour news
cycle and you're watching them pump that rage porn into
your homes, forget it. You're gonna think the world is
ending on a regular basis, and you're going to think
(48:49):
your neighbors want to kill you. That's legit the kind
of message that they're pumping right now, as opposed to
figuring out the stuff we get along on, the stuff
we agree on, and working from there. Nah, that's not
what they want to do. We're so desensitized to everything
that it's all about rage porn, and if it bleeds,
it leads. Allocators are inundated, he explained. Few are willing
(49:14):
to invest retire or endowment money with managers they've only
met on Zoom. Saunders has found even if an endowment
took great exception to for example, Black's relationship with Epstein
and the firm allowed them to cash out, pulling their
money create Pulling out their money creates another problem, where
would they put it. If allocators are unable to easily
(49:35):
go elsewhere and performance is quite strong, things can get lost.
Just from a self preservation standpoint, the brain can't react
to every last outrage. Well, this isn't just an outrage though.
This is about children again. See, I guess I look
at this differently than some people do. I guess a
crime to some people is a crime, But to me,
(49:56):
the worst possible crime you can commit is against a child,
the defenseless child. Are you kidding me? Right now? The
Black Epstein affairs landed in the lapse of institutional investors,
and they've broadly set it aside. But not all of
them are ignoring it. Ontario's new seventy billion Canadian seventy
(50:18):
billion dollars Canadian fifty two billion American investment arm for
provincial pension assets, i AMCO proudly committed a quarter of
a billion dollars to Apollo just this past spring, for example.
That deal still stands, but IMCO has put its partner
on notice. Well that's a good first step, right. How
(50:39):
about you pull all your money out and put it
somewhere else. But at least someone's putting this dude on blast.
I AMCO is aware of recent reports regarding mister Black's
alleged ties to Jeffrey Epstein, a spokesperson told the outlet Thursday.
We hold all of our partners and portfolio companies to
(50:59):
the highest ethical standards both in their private and professional conduct,
and take reputational, operational, and financial risks very seriously. So
let's see. Let's see what IMCO is about. Are they
all talk or are they going to walk the walk?
I have them on my list now to keep an
eye on translation smart enough please being institutional quality as
(51:25):
part of blue chip firms pitch to clients. Research shows
that performance tends to slip as assets balloon, but they
don't tend to embarrass their institutional clients. That's worth something.
But the Black Epstein Affairs suggests the trade may be
out of whack. Even if this episode isn't a fireable
offense under normal circumstances, what would an Apollo, Blackstone or
(51:49):
Bridgewater associates have to do to get to get the
acts and mass crimes industry industry experts agreed, big ones,
and that, my friends, is where the rico charges come in.
I say Leon black got charged with a rico charge,
(52:09):
it would be a wrap for him. There'd be no
chance that money would get pulled out of his firm
quicker than you can possibly imagine. There would be a
run on funds and they would be the end of
these people. Does the prosecution have the courage to do it?
(52:31):
At this point, a handful of investment giants have attracted
so much institutional capital wrapped up in such stringent terms
that firing them ceases to be a practical option. Lavish
fees are the carrot for good behavior, but what if
there's no more stick. A veteran from one alternatives investing
machine marveled at the dynamic. It's the worst form of
(52:52):
too big to fail. It really is sickening, isn't it.
And this story, the Jeffrey Epstein story, along with the
Panama papers and the Finsen files, all of this together
builds a very very disturbing picture of not only our
(53:14):
political ruling so called elite, but it's a damning expose
on the financial sector. If you'd like to contact me,
you can do that at Bobby Kapuchi at ProtonMail dot com.
That's b O b b Y c ap U c
c I at ProtonMail dot com. You can also find
(53:36):
me on Twitter at Bobby Underscore c ap U c
c I. You can All of the links for this
episode can be found in the description box. As for me,
I will be back later on and we will pick
the conversation up where we left it off. All right, everybody,
(53:56):
have a good one. I knew you
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