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By Sean O'Driscoll
Senior Crime and Courts Reporter
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The former chief executive of Barclays bank, Jes Staley, has admitted he had sex with a member of Jeffrey Epstein's staff.
Why It Matters
The woman was a consenting adult and there is no suggestion that Staley shared Epstein's interest in underage girls.
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However, the case illustrates the realms of financial power and influence in which Epstein lived.
Staley now finds himself in considerable legal difficulty and the revelation about Epstein's staff member was revealed in court.
Newsweek sought email comment from Staley's lawyer on Thursday.
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What To Know
Financier Epstein, who was accused of preying on underage girls as young as 14, took his own life at the age of 66 in a jail cell at New York City's Metropolitan Correctional Center in August 2019, before he could stand trial in Manhattan on sex-trafficking charges.
Authorities determined he hanged himself. He always denied any wrongdoing.
At the time, Epstein was already a convicted sex offender after being found guilty by a Florida state court in 2008 of one count of soliciting prostitution and one count of soliciting prostitution from a minor.
The London Tribunal
Staley made the admission about the woman during an Upper Tribunal employment hearing in London on March 11, The Guardian newspaper reported.
Barclays, who resigned in 2021, took the case to overturn a decision by the British Financial Conduct Authority to ban him from senior banking roles because he allegedly lied about his involvement with Epstein.
His closure in the Upper Tribunal came during cross-examination by Leigh-Ann Mulcahy KC, who asked him about having sex with an Epstein employee in a New York apartment.
No date was given for the encounter.
The Apartment Meeting
"Do you accept that you had sexual intercourse with a woman at Mr Epstein's brother's apartment?" he asked.
"Yes," Staley said, adding that he had met her through Epstein and that she was "part of his staff."
He then added that Epstein didn't know he had sex with the woman.
"How did it come about that you had sexual intercourse with a woman who worked for him at an apartment, owned by his brother, without him knowing?" Mulcahy asked.
Staley replied: "Oftentimes I would go to Epstein's apartment and he would be late, and she and I got the chance to know each other."
The married father of two daughters said he had sex with the woman that night, "much to my embarrassment today."
He added that the sex was consensual.
The Epstein Emails
He was also asked about an email exchange with Epstein in 2010 in which Staley wrote: "That was fun. Say hi to Snow White."
"What character would you like next?" Epstein asked.
Staley replied: "Beauty and the Beast." Epstein then responded: "Well one side is available."
Mulcahy said: "You've had a lot of time to consider this email ... are you able now to explain?"
"No," Staley said.
What People Are Saying
On October 12, 2023, the Financial Conduct Authority [FCA] announced that it had fined Staley and banned him from senior banking roles for his misleading statements about his relationship with Epstein.
"The FCA has decided to fine former CEO of Barclays, James Staley, £1.8 million and ban him from holding a senior management or significant influence function in the financial services industry.
"The FCA has found that Mr Staley recklessly approved a letter sent by Barclays to the FCA, which contained two misleading statements, about the nature of his relationship with Jeffrey Epstein and the point of their last contact," the FCA said at the time.
It added: "In reality, in emails between the two Mr Staley described Mr Epstein as one of his 'deepest' and 'most cherished' friends."
What Happens Next
The Tribunal will have to decide whether to overturn the FCA's decision.
It will likely be several months before it reaches a decision.
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