Former Barclays CEO Jes Staley acknowledged in court that he had a sexual encounter with a member of Jeffrey Epstein's staff as he challenged a proposed ban from financial services. The UK's Financial Conduct Authority accused Staley of being misleading regarding his ties to Epstein, aiming to fine him £1.8 million.
During his testimony at London's Upper Tribunal, Staley, 68, stressed his lack of awareness of Epstein's heinous acts and addressed his interactions with the disgraced financier. Staley clarified that a woman he met through Epstein was part of Epstein's staff and the encounter was consensual.
As part of the ongoing legal proceedings, the FCA highlighted Epstein's request for Staley to be a trustee of his estate, which Staley declined. Staley's defense hinges on Barclays' 2019 letter to the FCA, where he claims the statements about his relationship with Epstein were truthful.
The FCA pointed to a substantial volume of emails exchanged between Staley and Epstein, suggesting a deeper bond than Staley had acknowledged. Notably, Staley claimed no recollection of certain emails reflecting a tone more personal than professional.
Staley's testimony is set to conclude by Friday, with the case shedding light on the complexities of his past associations amid regulatory scrutiny.