Peter Mandelson is under scrutiny as Scotland Yard examines allegations that he leaked “market sensitive” information to Jeffrey Epstein during his tenure in government. These claims have prompted a police review, igniting significant controversy around the former political figure.
The accusations suggest that Mandelson, a key figure in New Labour, disclosed crucial advice meant for then-Prime Minister Gordon Brown. An email from 2009, sent amidst the tumultuous financial crisis, is at the center of this storm, being labeled a “betrayal” and leading to vehement demands for a thorough investigation.
Following this revelation, both Reform UK and the SNP have referred the matter to the Metropolitan Police, urging them to delve into the actions of Mandelson. In response to the growing backlash, Mandelson preemptively resigned from the Labour Party, citing a desire to prevent “further embarrassment.”
Further complicating matters is another email, part of a massive document release by the US Department of Justice, which reportedly shows Mandelson alerting Epstein to a €500 billion Eurozone bailout. This advance notice could have given Epstein an opportunity to profit before the deal’s public announcement. Additionally, Mandelson is accused of informing Epstein the night before Gordon Brown stepped down as Prime Minister.
These developments have led to calls for Mandelson to resign from the House of Lords, as the fallout from these allegations continues to unfold.
And Mandelson, who now faces calls to quit the Lords, also tipped off his friend the night before Mr Brown resigned from No 10.
In an interview published on Monday, Lord Mandelson claimed that he was ‘too trusting’ of Epstein, who he described as ‘muck that you can’t get off your shoe… Like dog muck, the smell never goes away’.
But he made it clear he has no intention of disappearing from public life, telling The Times: ‘Hiding under a rock would be a disproportionate response to a handful of misguided historical emails, which I regret sending.’
Keir Starmer was forced to sack Lord Mandelson from the key role of US ambassador last year after more revelations about Epstein
The released documents include an Epstein bank statement with a $25,000 transfer to Peter Mandelson – although the peer says he cannot remember receiving the money and believes it is fake
A photograph released as part of the Epstein files apparently shows Lord Mandelson talking to a woman who is wearing a white bath robe
And he said none of the Epstein files ‘indicate wrongdoing or misdemeanour on my part’ as he refused to give evidence to a US Congress inquiry.
Catherine MacLeod, who served as a special adviser to then-Chancellor Alastair Darling, said the leaking of confidential Treasury emails to Jeffrey Epstein during the financial crisis was a ‘betrayal’ in a Radio 4 interview.
Reform said it was ‘abundantly clear’ that Lord Mandelson ‘abused his position in office’ and called on the police to ‘investigate these shocking revelations’.
Meanwhile, Stephen Flynn, the SNP leader at Westminster, said in a letter to Met Commissioner Sir Mark Rowley that Lord Mandelson’s tenure in Government ‘must now be criminally investigated’.
The Met tonight confirmed it had received reports relating to allegations of misconduct in public office and said detectives were reviewing them to ‘determine if they meet the criminal threshold for investigation’.
Earlier in the day Gordon Brown said: ‘I have asked the Cabinet Secretary to investigate the disclosure of confidential and market sensitive information from the then Business Department during the global financial crisis.’
He also revealed that on September 10 last – the day Sir Keir Starmer said he had ‘confidence’ in Lord Mandelson as the Epstein scandal swirled once again – he wrote to the Cabinet Secretary, calling for an investigation into the peer but was told no records could be found.
New material appears to show emails were forwarded to Epstein by Lord Mandelson in which key Downing Street aides and ministers discussed a proposed £20billion of asset sales to shore up the country and revealed Labour’s tax policy plans.
This information would have been valuable to any bank or financial institution. The document was forwarded by Lord Mandelson to Epstein with the comment: ‘Interesting note that’s gone to the PM.’
The tranche of documents includes an email seemingly from Lord Mandelson to Epstein, talking about the UK government having ‘saleable’ assets
The 2009 memo highlighted that the government was looking to get investment moving
The memo made clear that the government was looking to sell off assets to avoid tax hikes
Epstein replied ‘what salable [sic] assets?’ Lord Mandelson responded: ‘Land, property I guess.’ Four months later the government announced a £16billion asset sale.
Meanwhile a series of emails appear to show Epstein used Lord Mandelson to arrange private tours of No10, including for his goddaughter.
In July 2009 Epstein emailed Lord Mandelson: ‘My goddaughter will be in London on wed and thurs [sic] of next week, what can we do to make it a very special trip.’
Lord Mandelson responded by asking ‘how old?’, to which Epstein said: ’15… House of Lords, Number 10, just for ten miniutes [sic].’ Lord Mandelson responded: ‘Fine on all.’
It came after bank statements emerged which suggest Epstein made $75,000 (£55,000) worth of payments to accounts connected to Lord Mandelson between 2003 and 2004.
Separate emails between the two show that in 2009 Epstein wired Lord Mandelson’s now husband, Reinaldo Avila da Silva, $10,000.
Three months later, Lord Mandelson, then the business secretary, was lobbying ministers on Epstein’s behalf over a proposed tax on bankers’ bonuses.
A few months earlier, in July 2009, Epstein was released from prison having served 13 months for soliciting a minor.
Lord Mandelson was sacked as British ambassador to the US in September after emails between him and Epstein were made public in which he told the paedophile to ‘fight for early release’.
