Prince Andrew's past relationship with Jeffrey Epstein is once again under scrutiny as legal proceedings involving former Barclays CEO Jes Staley unfold in a UK tribunal. Staley, who is challenging a financial ban imposed by the Financial Conduct Authority (FCA), has claimed that Barclays was fully aware of his links to Epstein when the bank stated otherwise in regulatory filings.
The FCA found that Staley misled regulators about the extent of his ties with Epstein and banned him from holding senior financial roles in 2023. The watchdog also fined him £1.8 million and cited emails that demonstrated a "close" relationship between the former executive and the convicted sex offender. Among the evidence referenced in the case are emails revealing that Epstein facilitated introductions for Staley, including one with a "royal family member," widely believed to be Prince Andrew.
Andrew's name surfaced in FCA documents related to the case, which reportedly include communications indicating that the Duke of York was still in contact with Epstein as late as February 2011. This contradicts Andrew's past statements that he cut ties with Epstein in December 2010. In his widely scrutinized 2019 BBC Newsnight interview, Andrew stated, "I ceased contact with him (Epstein) after I was aware that he was under investigation," adding that he personally met Epstein in 2010 to end their friendship.
The legal challenge from Staley, which began Monday at the Upper Tribunal in London, is expected to last two weeks. His legal team has argued that Barclays had full knowledge of his relationship with Epstein and that the FCA has wrongly portrayed him as dishonest. "Barclays knew that Mr Staley had had a 'close' professional relationship with Mr Epstein which had extended over many years ... [and] that there were aspects of that relationship which were not confined to business," Staley's legal representatives stated.
Barclays had initially reassured the FCA in an October 2019 letter that Staley "did not have a close relationship with Mr. Epstein" and that their last contact occurred before Staley joined the bank in 2015. However, the FCA investigation, which relied on additional information from JP Morgan, found that Staley was in communication with Epstein as recently as 2017. The FCA has also alleged that Staley used his daughter as an intermediary to maintain contact with Epstein after assuming the role of Barclays CEO.
The FCA's barrister, Leigh-Ann Mulcahy KC, told the tribunal that Staley had a "motive to downplay his relationship" with Epstein, particularly after Epstein was arrested in 2019 on sex-trafficking charges. She said there was a "pattern of underplaying his relationship" with Epstein, including his responses to media inquiries in 2015 and his statements to the board of Bowdoin College, where he was a trustee, in 2019.
Court filings in the case indicate that Epstein played an active role in Staley's career, leveraging his influence with business leaders, government officials, and members of royalty. The tribunal is expected to hear further details regarding the extent of these connections, including how Epstein facilitated relationships with key figures in finance and politics.
Prince Andrew has denied any wrongdoing and has repeatedly sought to distance himself from Epstein, despite having paid a multimillion-dollar settlement in 2022 to Virginia Giuffre, a victim of Epstein who accused him of sexual assault. The Duke of York has maintained that he never met Giuffre and that the settlement was not an admission of guilt.
