Secretary of Labor Alexander Acosta announced his resignation Friday amid criticism of actions taken in a sex-crimes case involving billionaire financier Jeffrey Epstein a decade ago.
Acosta, who defended his decisions in questioning during his confirmation hearings in 2017, is ultimately in charge of the nation’s 401k regulation, 5500 filings, MEP oversight and fiduciary rule revamps.
He signed off on a 13-month prison sentence for Epstein, according to a bombshell report from the Miami Herald released last November, in which critics charge the seriousness of the crimes should have warranted much stiffer punishment.
“Over the last week, I’ve seen a lot of coverage about the Department of Labor,” Secretary Acosta said Friday. “I do not think it is right and fair for this administration’s Labor Department to have Epstein as the focus rather than the incredible economy we have today.”
“I called the president today … I submitted my resignation,” he continued. “It would be selfish for me to stay in this position and continue talking about a case that is 12 years old rather than the incredible economy we have today.”
The resignation itself comes just two days after Acosta explained his actions in the 2008 case at a news conference.
Acosta was previously the United States attorney for the Southern District of Florida. He argued that it was his office that secured jail time, restitution and for Epstein to register as a sex offender, clearing a path for victims to sue in civil court.
Acosta would further say that Epstein’s actions were “despicable” and his crimes “absolutely deserve a stiffer sentence.”
Epstein was charged this week in Federal court with conspiracy and sex trafficking during the early 2000’s, to which he pled not guilty.
You’re going to want to read these past articles on Secretary Acosta:
Date Set for 401k Fiduciary Rule Reboot
Acosta Hints at Fiduciary Rule Future in Tense Hearing
Timing It Right at Fi360’s Annual Conference: John Faustino
DOL’s Acosta Slammed By Judge in Pedophile Epstein Case
In May, Acosta said Labor Department would reissue their own fiduciary rule with a preliminary date of December 2019.
Acosta’s decision to resign was his alone, President Trump said, and touted his work within the administration.
“Alexander is a great labor secretary—not a good labor secretary,” he said. “There is no need at all, as far as I’m concerned…This is a person that I’ve gotten to know. There hasn’t been an ounce of controversy at the Department of Labor.”
Trump would add: “He’s doing this not for himself. He’s doing this for the administration. I said, ‘You don’t have to do this.’ He doesn’t have to do this.”
Patrick Pizzella, currently deputy secretary of labor, will become acting secretary.
