Barclays CEO Jes Staley is now being formally investigated for ties to the late Jeffrey Epstein. Epstein, who was accused of sex trafficking minors, who recently died under less than clear circumstances in a New York jail, apparently still has a living legacy. While many people question his apparent suicide, many more may question just how much more information would be getting unearthed had he not mysteriously committed said suicide back in August of 2019.
News still continues to spill out about Epstein’s alleged ties to rich, famous and powerful people. Media Right News reported on some of how deep his connection lied here before Epstein died. This report includes but isn’t limited to his ties to Bill Clinton, Victoria’s Secret, and more.
JUST IN: Barclays CEO under investigation over links to Jeffery Epsteinhttps://t.co/viWxNJ4PIN
— Breaking911 (@Breaking911) February 13, 2020
Jes Staley isn’t denying the connections but hasn’t gone as far as to admit any wrongdoing. Britain’s two main regulators are launching an official investigation into a “relationship” Staley had which Staley has said he “deeply regrets”. Barclays released a detailed statement acknowledging the situation and appears to be backing Staley, for now. See part of that statement below:
In deciding whether to recommend Jes Staley for re-election, the Board has carried out its usual formal and rigorous performance assessment, which it does in respect of the effectiveness of each of the Directors. As part of its determination in respect of Mr. Staley, the Board has had regard to media reports in the past 6 months that have highlighted historical links between Mr. Staley and Jeffrey Epstein.
As has been widely reported, earlier in his career Mr. Staley developed a professional relationship with Mr. Epstein. In the summer of 2019, in light of the renewed media interest in the relationship, Mr. Staley volunteered and gave to certain executives, and the Chairman, an explanation of his relationship with Mr. Epstein. Mr. Staley also confirmed to the Board that he has had no contact whatsoever with Mr. Epstein at any time since taking up his role as Barclays Group CEO in December 2015.
The relationship between Mr. Staley and Mr. Epstein was the subject of an enquiry from the Financial Conduct Authority (“FCA”), to which the Company responded. The FCA and the Prudential Regulation Authority subsequently commenced an investigation, which is ongoing, into Mr. Staley’s characterisation to the Company of his relationship with Mr. Epstein and the subsequent description of that relationship in the Company’s response to the FCA.
Based on a review, conducted with the support of external counsel, of the information available to us and representations made by Mr. Staley, the Board (the Executive Directors having been recused) believes that Mr. Staley has been sufficiently transparent with the Company as regards the nature and extent of his relationship with Mr. Epstein. Accordingly, Mr. Staley retains the full confidence of the Board, and is being unanimously recommended for re-election at the Annual General Meeting.
The Board will continue to cooperate fully with the regulatory investigation, and will provide a further update as and when it is appropriate to do so.
It appears as though Barclay’s is doing investor damage control. Staley says his last contact was in 2015 when he took over the bank according to reporters. The two regulators he will be dealing with are the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority. It is unclear what other investigations may arise from this, let alone possible information.
