Former Barclays CEO Jes Staley admitted in court during the third day of his testimony that he had a sexual encounter with a member of Jeffrey Epstein's staff. Staley is appealing against a proposed ban by the Financial Conduct Authority (FCA) in the UK and a fine of 1.8 million pounds ($2.3 million) for allegedly providing misleading information about his association with Epstein.
Staley, 68, claimed he was unaware of Epstein's criminal activities and emphasized this in response to questions from the FCA's lawyer regarding a lawsuit filed against him by his previous employer, JPMorgan. The FCA highlighted Staley's relationship with Epstein, including being asked to be the trustee of Epstein's estate, as an indicator of their close connection, which Staley denied.
The core of Staley's appeal addresses a letter from Barclays to the FCA in 2019, where the FCA alleged that Staley had misrepresented the nature of his relationship with Epstein. The FCA pointed to a trove of emails exchanged between Staley and Epstein, characterizing their bond as "profound" and akin to "family," contradicting Staley's assertions of a distant association.
Throughout the court proceedings, Staley downplayed the significance of these emails, claiming he did not recall their content. The FCA challenged Staley's position, suggesting that the emails revealed a personal rather than strictly professional relationship. Staley's testimony is expected to conclude on Friday.