The CEO of the private equity firm Apollo is stepping down after the company’s board discovered he paid out $150 million to convicted sex offender Jeffrey Epstein. Leon Black, who is also the chairman of the Museum of Modern Art, said Monday he would be stepping down sometime before his 70th birthday in July. Apollo’s board had ordered an inquiry into Black after The New York Times reported in October that he had wired up to $75 million to Epstein after his 2008 conviction for soliciting prostitution from a teenage girl. Black has denied any involvement in Epstein’s international sex trafficking ring and has not been accused of sexual misconduct.
