Digest opened free editor
Rola Khaleda, FT editor, chooses her favorite stories in this weekly newsletter.
Former Barclays President Jeis Stallie discussed Secret deals and customers With the late perpetrator, Jeffrey Epstein, including details about the fraudulent Bernard MadovAccording to the court’s presentation by the UK Financial Supervision Authority.
The financial behavior authority cited the email messages that Stallie sent to Epstein as evidence that the banker had misled the organizer when he confirmed that the husband “had no close relationship.”
When Stallie worked at JPMorgan Chase, before joining Barclays, he asked Epstein advice on how to get a higher salary package than his president Jimmy Damon, and participated in a non -general details of a customer from the American Bank. A written argument against the former Barclays President.
Stallie launched a legal challenge against FCA decision In 2023, he banned him from working in financial services in the United Kingdom, and they fined him at a value of 1.8 million pounds due to “delusion recklessly” and acting “with no integrity” on the nature of his relationship with Epstein, a Wall -Set Bank agent.
Staley is scheduled to witness the case in March and face three days examined by FCA lawyers. On Thursday, the London Court listened to a pre -trial review.
The organizer said email traffic details between Staley and Epstein, which initially appeared in American lawsuitShe supported her discovery that the former Barclays coach had provided “inaccurate and misleading” data to the United Kingdom organizer when asked about their relationship.
“Between 2008 and 2011, Staley participated in secret information related to his former employer, Jpmorgan with Epstein, which appears close to their relationship and Story's readiness to violate the obligations due to his employer, including as there was conflict of interests between JPMorgan and Epstein,” said FCA.
He said that Epstein sent to Stali an email written by Larry Samarz, the former US Treasury Secretary, asking: “What is the true story on Madouf? He was sentenced to 150 imprisonment Years in prison in 2009 to organize a $ 65 billion in Bonzi scheme. He died in 2021.
FCA said that Staley answered: “I cannot respond in the email. It will call,” which the organizers said, “He is ready to discuss the case with Mr. Ibstein.”
The organizer said that it found evidence that Epstein, who died in prison in 2019 after his arrest on the charges of minors for sex, “provided great support” to the daughter of Stallie in her education and professional life and invited him to graduate from 2013.
In response to the written argument of FCA, Stallie acknowledged that the information he participated with Epstein was “general information”, but it denied that it was secret for Jpmorgan.
A letter sent by Barclays to FCA confirmed by Stali, the organizer, that Stallie stopped contacting Epstein “before” joined the bank in 2015.
But the organizer said that Stallie was in contact with Epstein in the days before his appointment as Barclays CEO in 2015, and he tried to the convicted sexual crimes to help him get the job.
In the latest response to the court, FCA claimed that the contact between the two men had already continued “at least” February 2017, using Staley's daughter as a mediator.
Stallie answered that FCA was not in consideration completely “intermittent nature” of email messages that were exchanged between his daughter and Epstein, which occurred over 11 months and began five months after the recent banking correspondence with Epstein.
The former Barclays president put his inability to remember the conversations with his daughter about emails to “the passage of time and his professional obligations.”
Staley's 68 -year -old lawyers argue that the FCA was “unfair” and that the punishment imposed was “greatly incompatible.”
They said that FCA decided to launch an investigation without giving Staley an opportunity to provide an explanation for “any clear contradiction” in his statements.
In the written arguments, Robert Smith KC, in favor of Stallie, said that FCA's claim that Stallie was in contact with Epstein in late 2017 through his daughter, “She was not backed by evidence.”
He added that FCA was able to refer to a “handful of occasions” in which the two interacted socially for almost 10 years.
Stallie Epstein met in almost 1999 while he was the head of the private jpmorgan bank, from which I Ibstin was a client. Epstein was convicted of the purchase of prostitution and was sentenced to 18 months in prison in Florida Prison in 2008.
Ann Mulkahi Ki, who represents FCA, said in legal documents that Stali's association with Epstein “inevitably raised questions about his behavior and wisdom.” She said that the penalties imposed on Stallie were “appropriate” and “commensurate”.
