An Investigation Reveals Epstein Brokered Meetings Between JPMorgan Banker and UK Government Officials

An internal investigation by JPMorgan Chase has uncovered that Jeffrey Epstein, the disgraced financier, facilitated meetings between Jes Staley, a senior banker at the time, and high-ranking members of the UK government. The investigation, which took place after Epstein’s arrest in 2019, found evidence suggesting that Epstein offered to connect Staley with then-UK Chancellor Alistair Darling and former business secretary Peter Mandelson. The report sheds light on Epstein’s attempts to forge political connections and exert influence.

A Coordinated Effort to Make Connections

A 22-page report compiled by JPMorgan Chase reveals communication between Epstein and Staley, indicating Epstein’s efforts to introduce Staley to influential figures in the UK government. In a letter written in January 2010, Epstein arranged a meeting between Staley and Mandelson at the World Economic Forum in Davos, Switzerland. The report also suggests that Staley expressed interest in a potential business deal involving the Royal Bank of Scotland’s non-North American units, which JPMorgan later acquired.

Lack of Recollection and Denial

The report indicates that neither Darling nor Mandelson recall meeting Staley or having any relationship with Epstein. Darling questions the necessity of a connection, posing the question, “Why should I?” Mandelson’s spokesperson acknowledges a meeting with Staley but denies any involvement or arrangement by Epstein. However, the report suggests that Epstein and Mandelson have had multiple conversations and meetings.

Epstein’s Influence Extends to Prince Andrew

The investigation also reveals Epstein’s connection to Britain’s Prince Andrew. The report includes emails between Epstein and Staley, where Epstein mentions asking Andrew about Staley’s plans for his boat on his private island. In 2010, Epstein forwarded an email from Prince Andrew to Staley, indicating Andrew’s suggestion to connect a company seeking financial assistance to a US bank. JPMorgan’s investigation concludes that Prince Andrew appeared to be using Epstein’s influence in this matter.

The Fallout and Ongoing Legal Battles

Epstein’s association with JPMorgan has not only caused reputational damage but also legal consequences for the bank. Last year, JPMorgan faced two lawsuits related to its continued association with Epstein. One of the lawsuits, filed by an alleged Epstein victim, was settled for $290 million. The US Virgin Islands has also filed a civil suit against JPMorgan, accusing the bank of profiting from human trafficking while ignoring warnings about Epstein. JPMorgan is now suing Staley, who was Epstein’s personal banker at the time, for allegedly withholding information about Epstein’s activities.

An Association Regretted and Lessons Learned

JPMorgan has publicly expressed regret for its association with Epstein and acknowledges the monstrous nature of his behavior. The bank believes that settling with Epstein’s victims is in the best interest of all parties involved. The internal investigation has shed light on the need for stricter due diligence and the importance of severing ties with individuals involved in criminal activities.

Exploring the Broader Implications of Epstein’s Connections

The revelations about Jeffrey Epstein’s role in brokering meetings between a JPMorgan banker and UK government officials raise significant questions about the influence of wealthy individuals and the potential for corruption. This article delves deeper into the subject matter, examining the broader implications and providing unique insights.

1. The Power of Connections

Epstein’s ability to connect influential figures in the financial sector with high-ranking politicians illustrates the influence that individuals with vast wealth can wield. These connections enable the wealthy to shape political agendas and potentially gain favors or advantages in business dealings. It highlights the need for greater transparency and scrutiny to prevent undue influence in the political sphere.

2. Trust in Financial Institutions

JPMorgan’s association with Epstein raises concerns about the integrity and ethics of financial institutions. The fact that the bank continued its relationship with Epstein for over a decade despite his criminal activities suggests a lack of adequate due diligence. This case underscores the importance of robust compliance procedures and stricter scrutiny of clients, especially those with questionable backgrounds.

3. The Role of Government Officials

The involvement of UK government officials in discussions facilitated by Epstein raises questions about their judgment and potential vulnerability to influence. It emphasizes the need for public officials to maintain the highest moral and ethical standards, as their actions can have far-reaching consequences. Transparency and accountability in government processes are crucial to maintaining public trust.

4. Addressing Human Trafficking

The accusations against JPMorgan of profiting from human trafficking highlight the pervasive issue of modern-day slavery and exploitation. This case serves as a reminder of the urgent need for global efforts to combat human trafficking, hold offenders accountable, and provide support for victims. Financial institutions play a crucial role in detecting and reporting suspicious activities related to human trafficking, and they must prioritize this responsibility.

5. Lessons for the Financial Industry

JPMorgan’s experience with Epstein serves as a cautionary tale for the financial industry as a whole. It underscores the importance of strong ethical standards, diligent client due diligence, and a commitment to severing ties with individuals involved in criminal activities. Financial institutions must prioritize the protection of their reputation and the trust of their clients by ensuring that they are not unwittingly facilitating illicit activities.

Summary

An internal investigation by JPMorgan has revealed that Jeffrey Epstein played a significant role in arranging meetings between a senior banker, Jes Staley, and high-ranking members of the UK government. The investigation uncovered evidence suggesting that Epstein offered to introduce Staley to influential figures such as the UK chancellor and former business secretary. This report sheds light on Epstein’s efforts to forge political connections and exert influence, highlighting the need for greater transparency and ethical standards in both the financial and political spheres. The fallout from JPMorgan’s association with Epstein has led to legal battles and calls for stricter due diligence processes. This case serves as a reminder of the power of wealthy individuals to shape agendas and raises questions about the integrity of financial institutions and the moral compass of government officials.

Additional reporting by William Wallis in London

Jeffrey Epstein said he brokered meetings between then senior banker Jes Staley and high-ranking members of the UK government, according to an internal investigation by JPMorgan Chase.

A 22-page report from the bank, compiled after its former client was arrested in 2019 and seen by the Financial Times, details how Epstein offered to put Staley in contact with the UK chancellor at the time Alistair Darling and Peter Mandelson, former business secretary and de facto deputy prime minister.

In January 2010, a few months after he was released from prison after serving a sentence for sex crimes, Epstein wrote to Staley, “I have arranged for you and Peter to meet you in Davos with the treasure,” a reference to the World Economic Forum taking place in Swiss.

A few days later, Staley wrote to Epstein that he had seen “Peter last night. Honey in 20 minutes. He’ll talk to Peter again this morning.

Darling said he did not remember meeting Staley, then a senior executive at JPMorgan, and that he had no relationship with Epstein. “Why should I?” she asked.

A later exchange recounted in the report suggests that Staley was interested in the pending sale of Sempra Commodities’ non-North American units by the Royal Bank of Scotland, which was forced to divest the unit following a UK government bailout. Months later, JPMorgan bought the business for $1.7 billion

Darling said any meeting on government affairs would be attended by public officials and that the Treasury was not involved in the management of RBS.

A person close to Mandelson said he met Staley in Davos to discuss the banking crisis, but that Epstein “definitely” did not arrange the meeting.

The report suggests that Epstein and Mandelson have spoken and met “on several occasions.”

According to the report, the company found an email from Epstein to Staley that said “peter” was staying at the “71st” over the weekend in June 2009. Epstein owned an apartment on East 71st Street in Manhattan. He also quoted Epstein emailing Staley in January 2011 telling him “peter in paris with me.” Epstein owned a lavish apartment in the French capital.

A Labor peer spokesman said: “Lord Mandelson very much regrets being introduced to Epstein. This connection has been a matter of public record for some time. He never had any kind of professional or business relationship with Epstein in any form.

There is no suggestion of any wrongdoing on the part of Darling or Mandelson, but the report illustrates how Epstein sought to further his political connections to exert influence.

Several other exchanges point to a friendly relationship between Epstein, Staley and Britain’s Prince Andrew. In 2009, according to the report, Epstein emailed Staley: “Ask Andrew [the] island, tell him about your plans for the boat,” an apparent reference to Little St James, Epstein’s private island in the Caribbean

In 2010, Epstein forwarded an email from Prince Andrew to Staley “with a request the prince received” from a company “seeking a $200 million working capital line.”

“Because the company is based in the United States, Prince Andrew appeared to be suggesting that Epstein link them to a US bank,” JPMorgan’s investigation concluded.

A representative of Prince Andrew and Staley’s lawyers did not respond to a request for comment.

Epstein died by suicide in prison while awaiting trial on federal sex trafficking charges in 2019.

JPMorgan’s decision to keep Epstein as a client from 1998 to 2013 led to the filing of two bombshell lawsuits late last year, one of which, brought by an alleged Epstein victim, was settled by the bank for $290 million last week.

The bank is yet to face a separate civil suit from the US Virgin Islands, where Epstein’s Little St James home was based. The territory accuses JPMorgan of profiting from human trafficking while ignoring numerous internal red flags about Epstein.

“Jeffrey Epstein has connected JPMorgan Chase executives with some of the wealthiest and most high-profile individuals in the world,” said a spokesman for the USVI Attorney General.

They added: “The USVI complaint alleges that, in exchange for bringing valuable new customers into the bank, JPMorgan Chase. . . he ignored evidence of Jeffrey Epstein’s crimes and traded the victims’ public safety for his own profit.

JPMorgan is in turn suing Staley, who was Epstein’s personal banker for a time at the US lender, and went on to lead Barclays in the UK before resigning after UK regulators concluded that he had misdescribed his relationship with the disgraced financier.

JPMorgan says Staley, who was accused by an anonymous Epstein victim of participating in sex crimes, withheld information about the disgraced financier from the bank. Staley called the allegations “slanderous” and “baseless.”

JPMorgan’s internal report highlights how close Staley was to Epstein, with the two discussing Staley’s career progression, “beautiful women” and the use of luxury boats and helicopters. He also discovered that Staley wrote to Epstein while he was in prison. And it contains excerpts from exchanges that suggest Epstein was trying to help Staley’s daughter get accepted at Columbia University in New York.

Some of the report’s findings were previously published by the Wall Street Journal.

JPMorgan declined to comment on the report.

In response to agreement reached with Epstein’s victims last week, the bank said: “We all now understand that Epstein’s behavior has been monstrous and we believe this settlement is in the best interests of all parties, especially the survivors, who have suffered unimaginable abuse at the hands of this man.

“Any association with him was a mistake and we regret that,” he added.

Additional reporting by William Wallis in London