Peter Mandelson informed Jeffrey Epstein that he was making efforts to alter government policy on bankers’ bonuses at Epstein’s request, following a payment made by the convicted sex trafficker to the then UK business secretary’s husband.
Recently released emails from the US Department of Justice (DoJ) provide insight into the close relationship between the disgraced financier and Lord Mandelson, who was dismissed as the British ambassador to Washington last year.
The correspondence from September 2009 includes messages between Epstein and Lord Mandelson’s husband, Reinaldo Avila da Silva, who requested £10,000 from Epstein to cover expenses for an osteopathy course. Epstein promptly responded, promising to send the loan amount immediately.
In a subsequent exchange, da Silva expressed gratitude for the money received in his account, confirming the transaction. Epstein, who had been released from prison earlier that year after pleading guilty to trafficking a minor, then discussed potential changes to government policy on taxing bankers’ bonuses with Lord Mandelson in December 2009.
The discussions took place amidst the aftermath of the financial crash, with the government imposing a 50% «super tax» on bonuses to prevent excessive pay following bank bailouts.
Further exchanges between Epstein and Lord Mandelson revealed conversations about career prospects and media coverage, including discussions about Gordon Brown’s election prospects the following year. The emails also touched on Lord Mandelson’s potential role on the Facebook board and his candidacy for leading the International Monetary Fund, despite his lack of central banking experience.
The emails underscore the close and enduring relationship between Epstein and Lord Mandelson, with the pair regularly communicating about various matters and making arrangements to meet in person.
Lord Mandelson responded to Jeffrey Epstein’s inquiry about changing government policy on bankers’ bonuses by stating that he was «trying hard» to make the amendment, months after Epstein had financially supported Lord Mandelson’s husband. The US Department of Justice released emails that shed light on the relationship between Epstein and Lord Mandelson. The correspondence in September 2009 between Epstein and Lord Mandelson’s husband, Reinaldo Avila da Silva, revealed that Epstein had provided financial assistance for an osteopathy course and other expenses.
Epstein’s release from prison in July 2009, following his guilty plea to trafficking a minor, marked the beginning of a series of emails exchanged between Lord Mandelson and Epstein. In December 2009, Lord Mandelson, who was the business secretary at the time, appeared to agree to attempt to influence government policy on taxing bankers’ bonuses. The subject of banker bonuses was contentious, especially in the aftermath of the financial crash and bank rescues. Chancellor Alistair Darling announced a 50% «super tax» on bonuses in December 2009 to prevent inflated pay due to taxpayer bailouts.
In an email exchange in December 2009, Epstein asked Lord Mandelson if the tax policy could be changed to only apply to the cash portion of bankers’ bonuses. Lord Mandelson replied that he was «Trying hard to amend» the policy, despite resistance from the Treasury. The reference to «Jes» in the emails may indicate Jes Staley, the former chief executive of Barclays and a close associate of Epstein, who was head of JP Morgan’s investment bank at the time.
The emails also touched on political matters, with Epstein and Lord Mandelson discussing Prime Minister Gordon Brown’s prospects in the upcoming election. The correspondence revealed the close relationship between Epstein and Lord Mandelson, with discussions ranging from career prospects to media coverage. Lord Mandelson considered joining the Facebook board and was even proposed as a candidate to lead the International Monetary Fund in a Guardian article shared by Epstein.
The emails highlighted the extent of the relationship between Epstein and Lord Mandelson, with regular communication and meetings being arranged. Lord Mandelson’s career options following Labour’s election defeat in 2010 were also discussed. The emails revealed a light-hearted exchange between the two, with jokes about media coverage.
Lord Mandelson clarified that the Treasury, not him, had encouraged a reporter to write an article proposing him as a candidate for the International Monetary Fund. Lord Mandelson, Jes Staley, and the Treasury have been contacted for comment on the matter. Keep the exact anchor texts of the links on
Peter Mandelson told Jeffrey Epstein he was «trying hard» to change government policy on bankers’ bonuses at his request, months after the convicted sex trafficker had paid thousands of pounds to the then UK business secretary’s husband.
Emails released by the US Department of Justice (DoJ) on Friday shed new light on the closeness of the relationship between the disgraced financier and Lord Mandelson, who was sacked as British ambassador to Washington last year.
The documents include correspondence in September 2009 between Epstein and Lord Mandelson‘s husband, Reinaldo Avila da Silva, who asked the financier to pay him £10,000 to fund an osteopathy course and other expenses.
Epstein responds «I will wire your loan amount immediate’y» [sic].
Epstein files – latest updates
A few days later, Mr da Silva, who married Lord Mandelson in 2023, replied «thank you for the money which arrived in my account this morning».
Epstein was released from prison in July 2009, having pleaded guilty to trafficking a minor.
In separate emails, exchanged in December 2009, Lord Mandelson, then business secretary in Gordon Brown’s government, appears to agree to try to change government policy on taxing bankers’ bonuses.
Coming just 18 months after the great financial crash and subsequent state rescue of banks, the subject was highly contentious.
On 9 December 2009, the then chancellor Alistair Darling announced a 50% «super tax» on bonuses, intended to prevent pay being inflated by taxpayer-funded bailouts.
Peter Mandelson was sacked as British ambassador to the US last year
In an email exchange on 15 December, in which email addresses are redacted, Epstein asked Mandelson if the policy could be changed.
«any [sic] real chance of making the tax only on the cash portion of the bankers bonus,» he wrote.
Lord Mandelson replied: «Trying hard to amend as I explained to Jes last night. Treasury digging in but I am on case.»
Epstein responds: «let me know before jes please,,».
«Ok. They are not being helpful…» is the reply.
«they jpm. or they treasury,» asks Epstein.
«Treasury» Mandelson replied.
«Jes» may be a reference to Jes Staley, the former chief executive of Barclays, who in 2009 was head of JP Morgan’s investment bank and a close associate of Epstein’s.
He resigned from Barclays in 2020 after the Financial Conduct Authority launched an investigation into his conduct and the transparency of his disclosures about his relationship with Epstein.
Jeffrey Epstein died in prison in 2019
Emails discuss career prospects and media coverage
Epstein and Lord Mandelson go on to discuss the then prime minister Gordon Brown’s prospects at the election due the following May.
«gb [sic] needs help in may , not another enemy,» writes Epstein.
«Or a car crash any earlier,» writes Mandelson.
The email chain is one of dozens between Epstein and Mandelson that reveal the closeness and length of the relationship.
Other exchanges released by the DoJ show the pair sharing regular messages about their whereabouts, making arrangements to meet in person, discussing Lord Mandelson’s career options following Labour’s 2010 election defeat, and joking about media coverage.
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In one, Lord Mandelson asks Epstein’s view of his joining the Facebook board.
In another, Epstein sent a link to a Guardian article that proposed Lord Mandelson as a candidate to lead the International Monetary Fund, despite his having no central banking experience.
Epstein writes that he hopes the reporter «you encouraged to write this» is «cute».
«As it happens, I didn’t. The Treasury did.» replies Lord Mandelson.
Lord Mandelson, Jes Staley and the Treasury have been approached for comment.
Please rephrase the following statement.
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