To be publicly named – and shamed – for having a longstanding ‘friendship’ with late pedophile and intercourse trafficker Jeffrey Epstein is sort of a unhealthy scent that received’t go away.
Take, as an illustration, high banker Jes Staley, a high-flying skilled within the finance world that has had his profession derailed by his lengthy and very problematic relationship with Epstein.
He was pressured to resign as Barclays’ CEO underneath the burden of the Epstein scandal led to when UK’s Monetary Conduct Authority (FCA) and Prudential Regulation Authority (PRA) concluded their two-year investigation on him.
In a earlier report right here on TGP, I wrote:
“Former JPMorgan Chase high government and Ex-Barclays CEO Jes Staley is dealing with a lifetime ban from senior roles in monetary providers, in addition to a 1.8 million pound ($2.21 million) high quality by UK’s Monetary Conduct Authority (FCA).
The ban and the high quality are for allegedly deceptive the FCA over his relationship with Jeffrey Epstein.
Reuters reported:
To be banned from any UK Banking actions is a tough blow for Staley. So, he’s preventing it again on courtroom.
‘The FCA has discovered that Mr Staley recklessly accepted a letter despatched by Barclays to the FCA, which contained two deceptive statements, concerning the nature of his relationship with Jeffrey Epstein and the purpose of their final contact’, [the FCA] stated’.”
To be banned from any UK Banking actions is a tough blow for Staley. So, he’s preventing it again on courtroom.
However earlier than he might even try this, he needed to straighten his authorized disputes along with his former financial institution JPMorgan, which he did by reached a confidential settlement in September 2023, as a part of an effort to resolve authorized disputes tied to the financial institution’s relationship with Jeffrey Epstein.
This got here after the financial institution settled with the U.S. Virgin Islands Authorities for $75 million and spent one other $290 million to settle a class-action lawsuit introduced by Epstein’s sexual abuse victims.
So, at this time, in UK courtroom, Staley’s legal professionals have argued that he didn’t mislead the UK’s monetary watchdog over his relationship with disgraced financier Jeffrey Epstein.
This London courtroom case is an try by the previous banker to ‘restore his status’.
Reuters reported:
“Staley appeared in courtroom flanked by his legal professionals as his enchantment in opposition to the Monetary Conduct Authority’s intention to ban him from working within the UK finance business indefinitely, and high quality him 1.8 million-pounds ($2.3 million), started at London’s Higher Tribunal.
The 68-year-old will subsequent week be cross-examined over his relationship with Epstein, whose 2019 arrest for intercourse trafficking minors and subsequent demise in custody introduced scrutiny on the late financier’s many high-profile associates.”
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