US Senate panel probes billionaire Leon Black's financial ties to Jeffrey Epstein

FILE PHOTO: Leon Black, Chairman, CEO and Director, Apollo Global Management, LLC, speaks at the Milken Institute's 21st Global Conference in Beverly Hills, California, U.S. May 1, 2018. REUTERS/Lucy Nicholson/File Photo

WASHINGTON (Reuters) - The U.S. Senate's Finance Committee on Tuesday revealed an ongoing probe into private equity billionaire Leon Black's financial ties with disgraced late financier Jeffrey Epstein, and said the investigation "uncovered serious tax issues."

"The investigation has uncovered serious tax issues and other concerns with trusts and structures Black executed to avoid over $1 billion in future gift and estate taxes," the panel said in a statement on Tuesday, adding its probe began in June 2022.