The controversial former chief executive of Barclays will pay a hefty fine after text messages and emails revealed the extent of his relationship with financier and sex criminal Jeffrey Epstein.
Jes Staley, who ran the major UK bank between 2015 and 2021, has been criticized Fine of £1.8 million ($2.2 million) The UK Financial Conduct Authority (FCA) banned him from holding senior positions in the financial services industry.
FCA has published 79-page folder Outlining a wide-ranging three-year investigation into the US banker’s ties to Epstein.
Epstein Pleaded guilty in 2008 The charges included soliciting girls as young as 14 and he was sentenced to 18 months in prison.
He was arrested in July 2019 on federal charges related to sex trafficking but died in custody a month later before the case went to trial. Investigators concluded he died by suicide.
Before his arrest, Epstein had maintained a high profile, including prince andrew As the FCA concluded, there was also former Barclays boss Staley.
“Reckless Approval” Letter
The FCA said Staley “recklessly approved” a letter sent by Barclays to the financial regulator in 2019 that contained two misleading statements.
Staley said during the investigation that he had never had a close relationship with Epstein and that his last contact with Epstein was in October 2015 “long before he joined Barclays”.
However, the FCA uncovered a line of communications that included 1,100 email exchanges between 2008 and 2012, during which Staley described Epstein as one of his “most cherished” friends.
Staley also visited Epstein’s island in the U.S. Virgin Islands center In April 2015, he visited the island for the third time during his friendship with Epstein in connection with his alleged sex trafficking operations.
In July 2015, Epstein sent Staley an email saying, “You’d better not send me emails. Phone calls only.” Staley subsequently sent Epstein blank emails twice. Emails with subject headings “Call my cell phone” and “Call me.”
he Resignation in November 2021 Barclays’ board determined his position was “untenable” after reviewing the preliminary findings of the FCA investigation.
The fine is close to Staley’s £2.4 million ($2.9 million) salary as bank president. Last February, Barclays froze payments to Staley while the FCA investigated Staley’s ties to Epstein, but said it would continue to pay his salary.
On Thursday, Barclays said Staley should give up bonuses and long-term equity incentives worth 17.8 million pounds ($21.7 million) following the FCA ruling, BBC report.
Staley plans to appeal the decision.
A representative for Barclays’ former boss did not immediately respond. of wealth Request for comment.
However, in a copy provided to protector “Had I known the true identity of J.E. (Jeffrey Epstein), there is no doubt that I would not be in the position I am in today,” Staley said in front of his attorneys. Had a relationship.
“Over the past 43 years I have worked tirelessly and sincerely supported many people/social causes where others may not have done so. I am very disappointed with the FCA’s decision and I will continue to challenge it. In these I will have no further comment until the proceedings are concluded.”
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