Barclays has mentioned allegations that its former chief govt Jes Staley was conscious of intercourse trafficking operations run by the late billionaire Jeffrey Epstein had been “severe and new”, because it additional distanced itself from its ex-boss.
It’s the most substantial remark made by Barclays since Staley resigned in November 2021 after a UK regulatory investigation into his relationship with the convicted intercourse offender, who was one in all Staley’s purchasers when he labored at JP Morgan years earlier.
The feedback additionally signalled Barclays was additional distancing itself from its former chief govt, having beforehand expressed disappointment at his departure.
“The board has famous the latest allegations made within the context of proceedings involving Mr Jes Staley’s former employer, and in opposition to Mr Staley himself, in relation to occasions a number of years previous to his becoming a member of Barclays. These allegations are severe and new,” Barclays mentioned in a press release launched to shareholders forward of its AGM on 3 Could.
It defended its earlier overview of Staley’s prior relationship with Epstein, which happened in February 2020, saying it was “based mostly on the knowledge it had on the time and representations made by Mr Staley”.
“Barclays itself has obtained no materials new proof from regulators or regulation enforcement companies since Mr Staley left in November 2021,” the financial institution added.
Two lawsuits geared toward JP Morgan declare Staley “noticed victims personally”, together with “visiting younger women at Epstein’s flats”, and exchanged 1,200 emails with the late financier that included images of younger girls in seductive poses and referring to girls by the names of Disney princesses.
JP Morgan has countered that the lawsuits are “misplaced and with out benefit”, including that the “plaintiffs have made troubling allegations in regards to the conduct of our former worker, and if true he needs to be held accountable for his actions”.
The US financial institution can also be suing Staley, saying he needs to be made responsible for any penalties the US financial institution might face because of lawsuits.
JP Morgan is being sued by prosecutors within the US Virgin Islands, the place a lot of the abuse is claimed to have taken place at a house owned by Epstein on a non-public island, and likewise by a girl recognized solely as Jane Doe 1.
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Barclays mentioned it was persevering with to withhold share-based bonuses that had been set to be launched to Staley “pending additional developments in respect of the continuing regulatory and authorized proceedings, at which level the board will even contemplate additional motion as acceptable”.
Staley’s lawyer was contacted for remark.
