Jeffrey Epstein claimed to have brokered conferences between then senior banker Jes Staley and high-ranking members of the UK authorities, in keeping with an inner investigation by JPMorgan Chase.
A 22-page report by the financial institution, compiled following the arrest of its former consumer in 2019 and seen by the Monetary Instances, particulars how Epstein supplied to attach Staley with UK chancellor on the time Alistair Darling and Peter Mandelson, former enterprise secretary and de facto deputy prime minister.
In January 2010, simply months after he was launched from jail having served a sentence for intercourse crimes, Epstein wrote to Staley: “I’ve arrange you and peter to satisfy in davos with darling,” a reference to the World Financial Discussion board that was happening in Switzerland.
A couple of days later, Staley wrote to Epstein that he noticed “Peter final evening. Darling in 20 minutes. Will discuss once more with Peter this AM.”
Darling mentioned he had no recollection of assembly Staley, then a senior govt at JPMorgan, and didn’t have any dealings with Epstein. “Why would I?” he requested.
An ensuing trade recounted within the report means that Staley was within the pending sale of the non-North American items of Sempra Commodities by Royal Financial institution of Scotland, which was pressured to divest the unit following a UK authorities bailout. Months later, JPMorgan purchased the enterprise for $1.7bn
Darling mentioned that any assembly on authorities enterprise would have been attended by civil servants and that the Treasury was not concerned within the operating of RBS.
An individual near Mandelson mentioned he met Staley at Davos to debate the banking disaster however that Epstein “definitely” didn’t prepare the assembly.
The report means that Epstein and Mandelson spoke and met “on a variety of events”.
In response to the report, the corporate discovered an e mail from Epstein to Staley saying that “peter” was staying at “71st” over the weekend in June 2009. Epstein owned a flat in East 71st Avenue, Manhattan. It additionally quoted Epstein emailing Staley in January 2011 telling him “peter in paris with me”. Epstein owned a lavish flat within the French capital.
A spokesman for the Labour peer mentioned: “Lord Mandelson very a lot regrets ever having been launched to Epstein. This connection has been a matter of public document for a while. He by no means had any type of skilled or enterprise relationship with Epstein in any type.”
There isn’t a suggestion of any wrongdoing by Darling or Mandelson, however the report illustrates how Epstein sought to tout his political connections to wield affect.
A number of different exchanges level to a pleasant relationship between Epstein, Staley and Britain’s Prince Andrew. In 2009, in keeping with the report, Epstein emailed Staley: “Ask Andrew about [the] island, inform him about your boat plans”, an obvious reference to Little St James, Epstein’s non-public island within the Caribbean
In 2010, Epstein forwarded an e mail from Prince Andrew to Staley “with an inquiry the Prince acquired” from an organization “in search of a $200mn working capital line”.
“For the reason that firm is predicated within the US, Prince Andrew appeared to recommend Epstein join them with a US financial institution,” JPMorgan’s investigation concluded.
A consultant for Prince Andrew and attorneys for Staley didn’t reply to a request for remark.
Epstein died by suicide in jail whereas awaiting trial on federal sex-trafficking expenses in 2019.
The choice by JPMorgan to retain Epstein as a consumer from 1998 to 2013 prompted the submitting of two bombshell lawsuits late final 12 months, one in all which, introduced by an alleged Epstein sufferer, was settled by the financial institution for $290mn final week.
The financial institution nonetheless faces a separate civil declare from the US Virgin Islands, the place Epstein’s house on Little St James was based mostly. The territory accuses JPMorgan of benefiting from human trafficking by ignoring quite a few inner crimson flags about Epstein.
“Jeffrey Epstein linked JPMorgan Chase’s executives with a number of the world’s most high-profile and rich people,” mentioned a spokesperson for the USVI attorney-general.
They added: “The USVI’s grievance alleges that, in return for bringing priceless new shoppers into the financial institution, JPMorgan Chase . . . ignored the proof of Jeffrey Epstein’s crimes and traded victims’ public security for its personal earnings.”
JPMorgan has in flip sued Staley, who was for a interval Epstein’s private banker on the US lender, and went on to guide Barclays within the UK earlier than resigning after UK regulators concluded that he had mischaracterised his relationship with the disgraced financier.
JPMorgan claims that Staley, who has been accused by an unnamed Epstein sufferer of collaborating in intercourse crimes, withheld details about the disgraced financier from the financial institution. Staley has referred to as the allegations “slanderous” and “baseless”.
The interior JPMorgan report underlines how shut Staley was to Epstein, with the 2 discussing Staley’s profession development, “stunning girls” and the usage of luxurious boats and helicopters. It additionally discovered that Staley wrote to Epstein whereas he was in jail. And it incorporates excerpts of exchanges that recommend that Epstein was making an attempt to help Staley’s daughter in being accepted into Columbia college in New York.
A few of the findings within the report have been earlier printed by the Wall Avenue Journal.
JPMorgan declined to touch upon the report.
In response to the agreement reached with Epstein victims final week, the financial institution mentioned: “All of us now perceive that Epstein’s behaviour was monstrous, and we imagine this settlement is in the most effective curiosity of all events, particularly the survivors, who suffered unimaginable abuse by the hands of this man.
“Any affiliation with him was a mistake, and we remorse it,” it added.
Extra reporting by William Wallis in London
