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---
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category: "Crime & Abuse Networks"
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tags:
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- Person
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- DavidSternBusinessAdviser
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- PrinceAndrew
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- JeffreyEpstein
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- EpsteinFiles
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- Witan
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alias:
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- David Stern (business adviser)
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- David Stern, business adviser to the Duke of York
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summary: "Business adviser to Prince Andrew, described by the BBC as \"the prince's business aide,\" director of the English company Witan Limited (formerly Asia Gateway Limited) and a correspondent of Jeffrey Epstein, 2011 to 2013."
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relations:
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- type: advisor_to
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with: "[[Prince Andrew]]"
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role: "business adviser to the Duke of York; appointment paperwork circulated by the Duke's private secretary on March 18, 2011"
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start: 2011-03-18
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fn: 6
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- type: director_of
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with: "[[Witan Limited]]"
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role: "director of Asia Gateway Limited (company no. 05579668), renamed Witan Limited on August 16, 2012; dissolved October 8, 2019"
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start: 2005-10-01
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end: 2019-10-08
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fn: 1
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- type: advised_by
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with: "[[Jeffrey Epstein]]"
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role: "consulted Epstein on the Duke's meetings, travel and business proposals, and on his own plan to join JPMorgan Chase, 2011 to 2013"
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start: 2011-01-12
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end: 2013-11-16
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fn: 3
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- type: named_in
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with: "[[Urramoor Limited]]"
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role: "named in a joinder line of the unsigned November 2013 draft Agreement for Referrals between Cantor Opportunities, LLC and Urramoor Limited"
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start: 2013-11
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fn: 13
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created: 2026-10-04
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updated: 2026-10-04
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---
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David Stern was a director from October 1, 2005 of the English company [[Witan Limited]] (company number 05579668, registered with [[Companies House]]), which traded as Asia Gateway Limited until August 16, 2012. The [[BBC]] described him on July 14, 2026 as "the prince's business aide" in its report on the 2013 [[Cantor Fitzgerald]] proposal to [[Prince Andrew]]. He is not the [[David Stern]] who led [[Lehi]].[^1][^2]
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### Companies House Record
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Companies House lists Asia Gateway Limited as incorporated on September 30, 2005, with Stern as director from October 1, 2005 and Finance Innovations Limited as secretary from April 5, 2007. An earlier director and secretary, both individuals, resigned on December 22, 2006. The company's nature of business is recorded as SIC 70229, "Management consultancy activities other than financial management." A certificate of change of name (form NM01, resolution of August 16, 2012) renamed it Witan Limited. Stern was listed as a person with significant control from April 6, 2016 with "Ownership of shares - 75% or more." The company applied for voluntary strike-off on May 30, 2019, withdrew that application on July 2, applied again on July 16, 2019 and was dissolved on October 8, 2019.[^1]
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### The Duke's Business Adviser, 2011
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On January 12, 2011 Stern wrote to [[Jeffrey Epstein]] about joining [[JPMorgan Chase]]: "How can JPM hire my Co or buy a stake instead of hiring me...?" and set out his company's details, copying its Companies House extract (Asia Gateway Limited, no. 05579668). Epstein answered "employee with an allowed co." Stern replied "We will have co-investment rights and with the allowed co we can continue to work with PA ?" and Epstein wrote "Yes." On January 18 Stern listed what the company was for: "work with PA," "to operate with at times in China to achieve JPM objectives (very important !)," and "case by case co-investment, etc."[^3]
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On February 25, 2011 Stern wrote that his "UK company currently trading under Asia Gateway Ltd. will get a change of name (to be decided which name) and will be my UK private company for PA etc. affairs." Epstein, quoted in the thread at 13:18, answered: "the concern is that asia gateway, could get in trouble and taint jpm.. i would suggest you call emiliio, and propose that a lawyer from jpm sit on the board of gateway,or be an officer. or be the accountant, so that they have total transparcny, and effective oversight."[^4]
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A message to Epstein of February 21, 2011, with the sender line redacted, quotes a proposed company name, "STERLING," followed by the text: "PA says to Starling: 'No. Nasty dirty little bird that flocks and shits.'" On February 28, 2011, at 15:24 UTC, Stern wrote: "New company name: WITAN. What do you think? PA likes it and since he did not know what it was when I told him it should be safe," followed by a definition of the Anglo-Saxon witan as the council that advised the king. Epstein replied "yes," and Stern wrote back "Hooray !!!" with the variants "Witan Trust" and "Witan Holdings." The register records the change of name on August 16, 2012.[^5][^1]
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On March 18, 2011 the Duke's private secretary, [[Amanda Thirsk]], sent the Duke a message headed "DAVID STERN," marked "RH - IN CONFIDENCE": "These are the types of agreements David would need to sign." The Duke forwarded it to Stern, "For you to consider and come back to us on." On March 30 Stern asked Epstein, "What should I do about the appointment letter? I was asked about it again today," attaching a file named "declaration of interests.doc."[^6]
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### Proposals Sent to Epstein, 2011 to 2013
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On March 1, 2011 Stern relayed a message he attributed to the Duke: "Tim Collins asked a friend PA and Collins have in common, if he (Collins) should do business with me. PA told him that I have his full trust and Collins would be a fool not to do business with me."[^7] On August 18, 2011 he proposed "Discreet Investment Firm (London, Beijing, NYC) with access to capital (min. $1bn or JPM Name, ideally both) ... must feel, smell and in fact be big money and power (including access to power globally - see PA)," in which "You are invisible ... I run it to the outside."[^8] On September 15, 2011 he wrote that he had spoken to the chief executive (named as Lenny Fischer) about [[Kleinwort Benson]] Group's planned acquisition of [[BHF-Bank]] and added: "To use this as platform to combine PA and Chinese wealth seems perfect...."[^9]
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On September 6, 2011 he wrote that he was going to China with the Duke on October 23 (Shanghai, Guangzhou, Shenzhen, Hong Kong): "Most meetings by now are organised by me except mayors and governors and nothing in KL. I stay in the background/hidden, just make the arrangements." On October 21 he wrote: "PA is chartering his own plane. He wants to take me with him. My name will be on the flight-records etc. I feel it is safer to fly separately. Do you agree?"[^10]
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On June 7, 2013 Stern wrote: "PA is in Silicon Valley on 25 & 26 June. Anyone you want him to see ?" Epstein answered "Yes , Steve sinofsky." On June 11 Stern wrote to [[Steven Sinofsky]]: "HRH or his office will be in touch shortly," and on July 10 asked him: "Do you happen to be in Los Angeles next week 18th & 19th? Or maybe I come to SF on the 17th? There are some very interesting ideas with The Duke involved that I would love to discuss." Sinofsky forwarded the message to Epstein asking "Do I do this?"[^11]
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On July 10, 2013 a message to Epstein from the address ds@witangroup.com asked, "What is your view on Howard Lutnick ? Just met him with PA." On August 28, 2013 a message to Epstein with the sender line redacted, whose writer refers to "my entity Witan," asked: "PA has access to decision makers and capital (but no deal flow) such as China, UAE, Qatar, Kuwait,.... Kleinwort Benson is a UK bank with merchant banking aspirations, and wanting to do international deals. What is the right structure to combine this? I am the connecting piece joining Kleinwort formally? What are the terms? Or JV with my entity Witan ?"[^12] The Cantor Fitzgerald exchange of September 2, 2013 ("Instead of 50/50, can we do 40/40/20 ? 20 for me.... This is original PA idea.") and the November 2013 draft referral agreement with a joinder line headed "David Stern" are set out on the pages for [[Urramoor Limited]] and Cantor Fitzgerald.[^13]
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On July 26, 2013 a message from "The Duke" to the financier [[Gary Winnick]], forwarded to Epstein, said: "I know you saw David Stern whilst he was in California a week or so ago and I know you discussed a number of things and whilst he hasn't fully reported to me the discussion I will be seeing him after the Summer Recess to discuss your discussion and other things."[^14]
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### Exchanges with Epstein over the Duke's Gulf Contacts, 2011
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On November 12, 2011 Epstein wrote to Stern: "I need PA to explain to Abdullah in abu dhabi that the press mess was not my fault. He no longer trusts me , and he says it is to do with pa." Stern had written that day, "Monday lunch I am with PA and Qataris." On December 7, 2011 Stern wrote: "Had dinner with PA yesterday. He said he spoke to Abdullah. I am not convinced." The documents do not identify "Abdullah" further.[^15]
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### Footnotes
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[^1]: Companies House, "WITAN LIMITED" (formerly ASIA GATEWAY LIMITED), company number 05579668, overview, officers, persons with significant control and filing history (CERTNM and NM01, August 16, 2012; DS01, May 30 and July 16, 2019; DS02, July 2, 2019; GAZ2(A), October 8, 2019). https://find-and-update.company-information.service.gov.uk/company/05579668 ; https://find-and-update.company-information.service.gov.uk/company/05579668/officers ; https://find-and-update.company-information.service.gov.uk/company/05579668/filing-history
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[^2]: Verity, Andy, Rob Byrne and Ben Milne. "How US commerce secretary's Epstein links were uncovered by British whistleblower." *BBC News,* July 14, 2026. https://www.bbc.co.uk/news/articles/c9q28dlyxrzo
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[^3]: U.S. Department of Justice, Epstein Library, EFTA00901836 and EFTA00902346, DataSet 9, emails of January 12 and January 18, 2011. https://www.justice.gov/epstein/files/DataSet%209/EFTA00901836.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00902346.pdf
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[^4]: U.S. Department of Justice, Epstein Library, EFTA00663880, DataSet 9, email of February 25, 2011 (13:59 UTC) quoting Epstein's message of 13:18. https://www.justice.gov/epstein/files/DataSet%209/EFTA00663880.pdf
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[^5]: U.S. Department of Justice, Epstein Library, EFTA00664546, DataSet 9 (February 21, 2011); EFTA00905375 and EFTA00905381, DataSet 9 (February 28, 2011). https://www.justice.gov/epstein/files/DataSet%209/EFTA00664546.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00905375.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00905381.pdf
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[^6]: U.S. Department of Justice, Epstein Library, EFTA02688118, DataSet 11, email of March 30, 2011 forwarding the Duke's message of March 18, 2011 and Amanda Thirsk's message "DAVID STERN" (attachment names include "declaration of interests.doc"). https://www.justice.gov/epstein/files/DataSet%2011/EFTA02688118.pdf
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[^7]: U.S. Department of Justice, Epstein Library, EFTA00905105, DataSet 9, email of March 1, 2011. https://www.justice.gov/epstein/files/DataSet%209/EFTA00905105.pdf
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[^8]: U.S. Department of Justice, Epstein Library, EFTA00665845, DataSet 9, email of August 18, 2011. https://www.justice.gov/epstein/files/DataSet%209/EFTA00665845.pdf
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[^9]: U.S. Department of Justice, Epstein Library, EFTA00682939, DataSet 9, email of September 15, 2011. https://www.justice.gov/epstein/files/DataSet%209/EFTA00682939.pdf
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[^10]: U.S. Department of Justice, Epstein Library, EFTA00665877 (September 6, 2011) and EFTA00674543 (October 21, 2011), DataSet 9. https://www.justice.gov/epstein/files/DataSet%209/EFTA00665877.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00674543.pdf
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[^11]: U.S. Department of Justice, Epstein Library, EFTA00657628 (June 7, 2013) and EFTA00873549 (July 10, 2013, with quoted messages of June 7, June 11 and July 10), DataSet 9. https://www.justice.gov/epstein/files/DataSet%209/EFTA00657628.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00873549.pdf
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[^12]: U.S. Department of Justice, Epstein Library, EFTA00873540 (July 10, 2013) and EFTA00649433 (August 28, 2013, 22:00 UTC), DataSet 9. https://www.justice.gov/epstein/files/DataSet%209/EFTA00873540.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00649433.pdf
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[^13]: U.S. Department of Justice, Epstein Library, EFTA01141453, DataSet 9, "Agreement for Referrals" (draft). https://www.justice.gov/epstein/files/DataSet%209/EFTA01141453.pdf
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[^14]: U.S. Department of Justice, Epstein Library, EFTA00966267, DataSet 9, "Fw: Knowledge Crossing," July 26, 2013. https://www.justice.gov/epstein/files/DataSet%209/EFTA00966267.pdf
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[^15]: U.S. Department of Justice, Epstein Library, EFTA00923726 (November 12, 2011) and EFTA00697811 (December 7, 2011), DataSet 9. https://www.justice.gov/epstein/files/DataSet%209/EFTA00923726.pdf ; https://www.justice.gov/epstein/files/DataSet%209/EFTA00697811.pdf
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@ -17,7 +17,7 @@ summary: "JPMorgan executive who managed and vouched for Jeffrey Epstein's banki
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born: 1956-12-27
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location: "Boston, Massachusetts"
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created: 2026-06-20
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updated: 2026-09-25
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updated: 2026-10-04
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relations:
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- type: employed_by
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with: "[[JPMorgan Chase]]"
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@ -60,6 +60,11 @@ relations:
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start: 2019-08-15
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end: 2025-07-23
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fn: 1
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- type: received_forward_from
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with: "[[Jeffrey Epstein]]"
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start: 2010-12-02
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role: 'received, with the single word "FYI," Epstein''s forward of a request for a banker introduction for Aria Petroleum that the Duke of York had sent him the same day'
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fn: 15
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---
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James Edward Staley is an American banker who spent more than three decades at [[JPMorgan Chase]], rose to run its asset management and then its investment bank, and served as group chief executive of [[Barclays]] from December 2015 until November 2021. During his JPMorgan years he was the senior executive who managed and advocated for the bank's relationship with [[Jeffrey Epstein]], a private-banking client from 1998 to 2013. In a Decision Notice dated May 30, 2023 and published on October 12, 2023, the [[Financial Conduct Authority]] banned Staley from holding senior management functions in UK financial services and fined him for recklessly approving a letter that misled the regulator about his relationship with Epstein, a decision the [[Upper Tribunal]] upheld on June 26, 2025 while reducing the penalty to 1,107,306.92 pounds.[^1][^2][^3][^4]
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@ -90,27 +95,29 @@ While Epstein was serving his Florida sentence in 2008, Staley sent him confiden
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In a June 2010 email from London, Staley wrote to Epstein, "Andrew just sat next to me at dinner... Any word on M? This is fun," asked whether "she" was free that night, and declined a call from Epstein because "I'm w A." The tribunal received no innocent explanation from Staley and did not identify "Andrew" or "A." On December 22, 2010 [[Prince Andrew]] wrote to Staley: "Wishing you a very happy Christmas and New Year. Sorry to have missed you this week... I will be at Davos as usual."[^4][^10]
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On December 2, 2010 Jeffrey Epstein forwarded Staley a message he had received that day from an account displayed as "The Duke," under the subject "Aria Petroleum." The forwarded text, signed "HRH The Duke of York KG," reads: "I should have done something about this but not sure if the office did. I am checking but as this is a US institution do you know of anyone who might like to take a look?" Beneath it was a September 30, 2010 message to Prince Andrew, copied to his private secretary [[Amanda Thirsk]], from [[Ed Scott]], managing partner of [[Concord Investment Partners]] Holdings, who wrote that he was "going on board of [[Aria Petroleum]]," described as "Central Asia's 2nd largest fuel distribution company" and "the preferred vendor of US DoD Defense Logistics," and asked for an introduction to "the appropriate senior banker at Barclays or RBS" for a "$200 million working capital line." Epstein's message to Staley, sent at 6:42 PM (displayed from "Jeevacation"), consisted of "FYI."[^15] The document bears the production legend "Confidential Treatment Requested by JPMorgan Chase."[^15]
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### The 2011 Retention
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In 2011 the bank's anti-money-laundering staff asked to exit Epstein, and an internal email said the decision to keep him was "all due to Jes's personal relationship." The tribunal recorded internal evidence that general counsel Stephen Cutler believed Epstein "would have been exited as a client of JPM had not Mr Staley vouched for him," and found it more likely than not that Staley's advocacy caused the retention; Staley testified that Cutler had full latitude to exit Epstein and that he would not have stood in his way. Staley admitted in cross-examination that he knew of and discussed with Epstein the bank's 2011 concern about Epstein's "atypical cash withdrawals" and the trafficking allegations, contrary to his witness statement. An August 4, 2011 internal meeting concluded that the private bank's chief executive, [[John Duffy]], would "reach out to Jes Staley and advise that we exit while things are a bit settled."[^4][^7][^10]
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During the same weeks Epstein was pitching Staley and Erdoes on business. On July 27, 2011 he wrote to both, copying [[Boris Nikolic]], the chief science and technology adviser to Bill Gates, that for a proposed charitable fund "the mimimum donation would be 100 million," that "a portfolio will be established for each donor," and that "the charitable fees. audit fees, investment mgmt fees, trustee fees, will all be JPM."[^15] On August 27, 2011 he told them that senior staff of the Gates foundation "say they are getting confusing messages from JPM. They say that JPM wants to use the current foundation to do other things," and closed, "There are too many people without direction. lets speak,,"[^16]
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During the same weeks Epstein was pitching Staley and Erdoes on business. On July 27, 2011 he wrote to both, copying [[Boris Nikolic]], the chief science and technology adviser to Bill Gates, that for a proposed charitable fund "the mimimum donation would be 100 million," that "a portfolio will be established for each donor," and that "the charitable fees. audit fees, investment mgmt fees, trustee fees, will all be JPM."[^16] On August 27, 2011 he told them that senior staff of the Gates foundation "say they are getting confusing messages from JPM. They say that JPM wants to use the current foundation to do other things," and closed, "There are too many people without direction. lets speak,,"[^17]
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### Project Jeep
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After *[[The New York Times]]* reported on Epstein's Wall Street ties on July 22, 2019, JPMorgan's financial-crimes compliance unit began an internal review, later called Project Jeep, whose trade-surveillance staff summarized 222 email exchanges, most of them between Epstein and Staley, in a 22-page document dated September 17, 2019 and circulated on October 27 and 28, 2019. Its first heading read: "Jes Staley appears to have a close relationship with Jeffrey Epstein, regularly communicating with him and seeking advice from him including while Epstein is incarcerated."[^17][^18][^19] Two items were singled out in the cover email. Under that heading, the reviewers quoted Epstein's December 30, 2008 message offering Staley his house while he was in custody ("everyone is gone except the housekeepers, you are more than welcome to use the house . you will be well looked after. the chef from paris is there"), and Staley's reply the next day that he had "asked Rosa to make a date free in early January for me to visit the Palm Beach office and spend some time with you." Under a heading on comments that "may have the appearance of relating to inappropriate behavior with one reference between Epstein and Staley to a modeling agency," they placed an August 27 to 29, 2009 exchange in which Staley wrote that he would be "In London with Jamie, mid week," Epstein asked "how long london? Do you need anything there?" and Staley answered "Yep," beside a 3,000 dollar wire from Epstein's JPMorgan account on August 29, 2009 to a woman in [[Lithuania]] associated with a ballet company there, who had received 2,000 dollars from Epstein on January 8, 2009.[^18] JPMorgan's counsel told the court that the summary was prepared after Epstein's death by employees with no contemporaneous knowledge of the relationship.[^19]
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After *[[The New York Times]]* reported on Epstein's Wall Street ties on July 22, 2019, JPMorgan's financial-crimes compliance unit began an internal review, later called Project Jeep, whose trade-surveillance staff summarized 222 email exchanges, most of them between Epstein and Staley, in a 22-page document dated September 17, 2019 and circulated on October 27 and 28, 2019. Its first heading read: "Jes Staley appears to have a close relationship with Jeffrey Epstein, regularly communicating with him and seeking advice from him including while Epstein is incarcerated."[^18][^19][^20] Two items were singled out in the cover email. Under that heading, the reviewers quoted Epstein's December 30, 2008 message offering Staley his house while he was in custody ("everyone is gone except the housekeepers, you are more than welcome to use the house . you will be well looked after. the chef from paris is there"), and Staley's reply the next day that he had "asked Rosa to make a date free in early January for me to visit the Palm Beach office and spend some time with you." Under a heading on comments that "may have the appearance of relating to inappropriate behavior with one reference between Epstein and Staley to a modeling agency," they placed an August 27 to 29, 2009 exchange in which Staley wrote that he would be "In London with Jamie, mid week," Epstein asked "how long london? Do you need anything there?" and Staley answered "Yep," beside a 3,000 dollar wire from Epstein's JPMorgan account on August 29, 2009 to a woman in [[Lithuania]] associated with a ballet company there, who had received 2,000 dollars from Epstein on January 8, 2009.[^19] JPMorgan's counsel told the court that the summary was prepared after Epstein's death by employees with no contemporaneous knowledge of the relationship.[^20]
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In its October 10, 2025 letter to Senator [[Ron Wyden]], JPMorgan stated that "with the exception of former JPMC executive Jes Staley, the Firm's executives (current and former) are respected professionals who acted with integrity," described Staley as the only person claiming Dimon knew of Epstein before 2019, and quoted the tribunal's finding that he "lacked credibility."[^20] Wyden's August 2026 report named Staley among thirteen bankers whose conduct it said merited investigation.[^7]
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In its October 10, 2025 letter to Senator [[Ron Wyden]], JPMorgan stated that "with the exception of former JPMC executive Jes Staley, the Firm's executives (current and former) are respected professionals who acted with integrity," described Staley as the only person claiming Dimon knew of Epstein before 2019, and quoted the tribunal's finding that he "lacked credibility."[^21] Wyden's August 2026 report named Staley among thirteen bankers whose conduct it said merited investigation.[^7]
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### Barclays and the FCA Ban
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While Barclays chief executive, Staley was separately sanctioned for attempting to identify a whistleblower who had sent letters criticizing a senior Barclays hire; in 2018 the FCA and the [[Prudential Regulation Authority]] fined him 642,430 pounds and Barclays cut his pay.[^21] Staley remained chief executive until November 2021, when he resigned as the FCA and PRA conclusions about his Epstein relationship became known.[^2]
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While Barclays chief executive, Staley was separately sanctioned for attempting to identify a whistleblower who had sent letters criticizing a senior Barclays hire; in 2018 the FCA and the [[Prudential Regulation Authority]] fined him 642,430 pounds and Barclays cut his pay.[^22] Staley remained chief executive until November 2021, when he resigned as the FCA and PRA conclusions about his Epstein relationship became known.[^2]
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On February 13, 2020, the morning the FCA's inquiry into how Staley had described the relationship became public, a business editor at the London newspaper *i* asked the [[Federal Bureau of Investigation|FBI]] National Press Office whether Staley had been asked to cooperate with its Epstein investigation. An FBI New York public affairs specialist replied that "it's not something we'd be able to comment on," and forwarded the query internally as "news of the day." A member of the [[U.S. Attorney's Office for the Southern District of New York]] answered the FBI forward: "The FCA reached out to me this morning to give me a heads up as well. We too will not comment if asked."[^22]
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On February 13, 2020, the morning the FCA's inquiry into how Staley had described the relationship became public, a business editor at the London newspaper *i* asked the [[Federal Bureau of Investigation|FBI]] National Press Office whether Staley had been asked to cooperate with its Epstein investigation. An FBI New York public affairs specialist replied that "it's not something we'd be able to comment on," and forwarded the query internally as "news of the day." A member of the [[U.S. Attorney's Office for the Southern District of New York]] answered the FBI forward: "The FCA reached out to me this morning to give me a heads up as well. We too will not comment if asked."[^23]
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The FCA's case centered on an October 8, 2019 letter that Barclays sent to the regulator after an FCA call on August 15, 2019, which Staley reviewed on October 6 and approved by email on October 7 as "comfortable with the language," stating that he "did not have a close relationship" with Epstein and had "ceased contact" with Epstein before joining Barclays.[^1] The FCA found those statements misleading, citing emails in which Staley described Epstein as one of his "deepest" and "most cherished" friends, and evidence that Staley was in contact with Epstein in the days before his Barclays appointment was announced on October 28, 2015, and indirectly in 2016 and 2017.[^1] On October 8, 2015, before the appointment was public, Staley told Epstein that the Barclays board's nominations committee had approved it, and their emails continued until October 25, 2015; Staley had described the April 2015 visit to Barclays colleagues as his last contact. The FCA's Decision Notice, dated May 30, 2023 and published on October 12, 2023, banned Staley from senior management functions and set a penalty of 1,812,862 pounds: 30 percent of his 5,493,526 pounds in relevant income from October 2018 to October 2019, raised 10 percent for his 2018 whistleblower sanction, with no settlement discount because the parties did not agree at the first stage. Staley referred the decision to the tribunal, which suspended its effect.[^1][^2]
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The Upper Tribunal heard Staley's reference and, on June 26, 2025, dismissed it and upheld the prohibition, finding that he had acted recklessly and with a lack of integrity and that the evidence of his Epstein relationship was "overwhelming."[^3] The tribunal reduced the financial penalty from 1,812,862 pounds to 1,107,306.92 pounds, reflecting deferred Barclays shares that he forfeited, and applied the standard that recklessness as to the truth of statements on which others may rely amounts to a lack of integrity without proof of dishonesty. The FCA's Final Notice of July 23, 2025 imposed the prohibition from that date and required payment by August 6, 2025.[^3][^4][^23] During the proceedings Staley testified that he had a sexual encounter with a member of Epstein's staff years earlier, and he maintained that he had not been dishonest.[^24]
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The Upper Tribunal heard Staley's reference and, on June 26, 2025, dismissed it and upheld the prohibition, finding that he had acted recklessly and with a lack of integrity and that the evidence of his Epstein relationship was "overwhelming."[^3] The tribunal reduced the financial penalty from 1,812,862 pounds to 1,107,306.92 pounds, reflecting deferred Barclays shares that he forfeited, and applied the standard that recklessness as to the truth of statements on which others may rely amounts to a lack of integrity without proof of dishonesty. The FCA's Final Notice of July 23, 2025 imposed the prohibition from that date and required payment by August 6, 2025.[^3][^4][^24] During the proceedings Staley testified that he had a sexual encounter with a member of Epstein's staff years earlier, and he maintained that he had not been dishonest.[^25]
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### Footnotes
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@ -128,13 +135,14 @@ The Upper Tribunal heard Staley's reference and, on June 26, 2025, dismissed it
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[^12]: "JPMorgan Sues Ex-Executive Associated With Jeffrey Epstein," *Time,* 2023. https://time.com/6261243/jpmorgan-lawsuit-jes-staley-epstein-trafficking/
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[^13]: "Jes Staley Says JPMorgan Using Him as 'Shield' for Epstein Failures," *U.S. News & World Report / Reuters,* 2023. https://www.usnews.com/news/top-news/articles/2023-04-24/jes-staley-seeks-to-dismiss-jpmorgan-chase-lawsuit-over-jeffrey-epstein
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[^14]: Deposition of James Dimon, May 26, 2023, Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904-JSR (S.D.N.Y.), transcript pp. 261-269. https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rQOuhi8KqiM0/v0
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[^15]: U.S. Department of Justice, Epstein Library, EFTA01861564, DataSet 10, email from Jeffrey Epstein to Jes Staley and Mary Erdoes, cc Boris Nikolic, July 27, 2011. https://www.justice.gov/epstein/files/DataSet%2010/EFTA01861564.pdf
|
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[^16]: U.S. Department of Justice, Epstein Library, EFTA00918200, DataSet 9, email from Jeffrey Epstein to Jes Staley and Mary Erdoes, August 27, 2011. https://www.justice.gov/epstein/files/DataSet%209/EFTA00918200.pdf
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[^17]: U.S. Department of Justice, Epstein Library, EFTA02808715, Court Records (Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904), letter motion of Motley Rice to Judge Jed S. Rakoff seeking leave to reopen depositions, ECF No. 191, June 7, 2023 (filed June 20, 2023). https://www.justice.gov/epstein/files/Court%20Records/Government%20of%20the%20United%20States%20Virgin%20Islands%20v.%20JPMorgan%20Chase%20Bank%2C%20N.A.%2C%20No.%20122-cv-10904%20(S.D.N.Y.%202022)/EFTA02808715.pdf
|
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[^18]: U.S. Department of Justice, Epstein Library, EFTA02808647, Court Records (Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904), Exhibit 3 to ECF No. 191, email "Project Jeep Current Review," October 27-28, 2019 (JPM-SDNYLIT-00901997). https://www.justice.gov/epstein/files/Court%20Records/Government%20of%20the%20United%20States%20Virgin%20Islands%20v.%20JPMorgan%20Chase%20Bank%2C%20N.A.%2C%20No.%20122-cv-10904%20(S.D.N.Y.%202022)/EFTA02808647.pdf
|
||||
[^19]: U.S. Department of Justice, Epstein Library, EFTA02808625, Court Records (Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904), letter of John J. Butts, WilmerHale, opposing the motion to reopen depositions, ECF No. 187, June 9, 2023 (filed June 15, 2023). https://www.justice.gov/epstein/files/Court%20Records/Government%20of%20the%20United%20States%20Virgin%20Islands%20v.%20JPMorgan%20Chase%20Bank%2C%20N.A.%2C%20No.%20122-cv-10904%20(S.D.N.Y.%202022)/EFTA02808625.pdf
|
||||
[^20]: Letter from JPMorgan Chase & Co. to Senator Ron Wyden, Ranking Member, Committee on Finance, October 10, 2025. https://www.finance.senate.gov/imo/media/doc/101025jpmcresponsetowyden.pdf
|
||||
[^21]: "Ex-Barclays CEO Staley's lifetime FCA ban to remain," *Banking Dive,* 2025. https://www.bankingdive.com/news/jes-staley-fca-lifetime-ban-banking-epstein-barclays-uk/751754/
|
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[^22]: U.S. Department of Justice, Epstein Library, EFTA00079559, DataSet 9, FBI New York and USANYS email chain "Jeffrey Epstein case: Jes Staley (Barclays)," February 13, 2020. https://www.justice.gov/epstein/files/DataSet%209/EFTA00079559.pdf
|
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[^23]: Financial Conduct Authority, Final Notice to James Edward Staley, Reference JXS02208, July 23, 2025. https://www.fca.org.uk/publication/final-notices/james-edward-staley-2025.pdf
|
||||
[^24]: "Former Barclays CEO Jes Staley slept with Epstein assistant, court hears," *Yahoo / PA Media,* 2025. https://www.yahoo.com/news/former-barclays-ceo-jes-staley-181703399.html
|
||||
[^15]: U.S. Department of Justice, Epstein Library, EFTA01256235, DataSet 9, "Fwd: Aria Petroleum," December 2, 2010 (Bates JPM-SDNY-00001227); the Duke's message also at EFTA02415338, DataSet 11. https://www.justice.gov/epstein/files/DataSet%209/EFTA01256235.pdf
|
||||
[^16]: U.S. Department of Justice, Epstein Library, EFTA01861564, DataSet 10, email from Jeffrey Epstein to Jes Staley and Mary Erdoes, cc Boris Nikolic, July 27, 2011. https://www.justice.gov/epstein/files/DataSet%2010/EFTA01861564.pdf
|
||||
[^17]: U.S. Department of Justice, Epstein Library, EFTA00918200, DataSet 9, email from Jeffrey Epstein to Jes Staley and Mary Erdoes, August 27, 2011. https://www.justice.gov/epstein/files/DataSet%209/EFTA00918200.pdf
|
||||
[^18]: U.S. Department of Justice, Epstein Library, EFTA02808715, Court Records (Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904), letter motion of Motley Rice to Judge Jed S. Rakoff seeking leave to reopen depositions, ECF No. 191, June 7, 2023 (filed June 20, 2023). https://www.justice.gov/epstein/files/Court%20Records/Government%20of%20the%20United%20States%20Virgin%20Islands%20v.%20JPMorgan%20Chase%20Bank%2C%20N.A.%2C%20No.%20122-cv-10904%20(S.D.N.Y.%202022)/EFTA02808715.pdf
|
||||
[^19]: U.S. Department of Justice, Epstein Library, EFTA02808647, Court Records (Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904), Exhibit 3 to ECF No. 191, email "Project Jeep Current Review," October 27-28, 2019 (JPM-SDNYLIT-00901997). https://www.justice.gov/epstein/files/Court%20Records/Government%20of%20the%20United%20States%20Virgin%20Islands%20v.%20JPMorgan%20Chase%20Bank%2C%20N.A.%2C%20No.%20122-cv-10904%20(S.D.N.Y.%202022)/EFTA02808647.pdf
|
||||
[^20]: U.S. Department of Justice, Epstein Library, EFTA02808625, Court Records (Government of the United States Virgin Islands v. JPMorgan Chase Bank, N.A., No. 1:22-cv-10904), letter of John J. Butts, WilmerHale, opposing the motion to reopen depositions, ECF No. 187, June 9, 2023 (filed June 15, 2023). https://www.justice.gov/epstein/files/Court%20Records/Government%20of%20the%20United%20States%20Virgin%20Islands%20v.%20JPMorgan%20Chase%20Bank%2C%20N.A.%2C%20No.%20122-cv-10904%20(S.D.N.Y.%202022)/EFTA02808625.pdf
|
||||
[^21]: Letter from JPMorgan Chase & Co. to Senator Ron Wyden, Ranking Member, Committee on Finance, October 10, 2025. https://www.finance.senate.gov/imo/media/doc/101025jpmcresponsetowyden.pdf
|
||||
[^22]: "Ex-Barclays CEO Staley's lifetime FCA ban to remain," *Banking Dive,* 2025. https://www.bankingdive.com/news/jes-staley-fca-lifetime-ban-banking-epstein-barclays-uk/751754/
|
||||
[^23]: U.S. Department of Justice, Epstein Library, EFTA00079559, DataSet 9, FBI New York and USANYS email chain "Jeffrey Epstein case: Jes Staley (Barclays)," February 13, 2020. https://www.justice.gov/epstein/files/DataSet%209/EFTA00079559.pdf
|
||||
[^24]: Financial Conduct Authority, Final Notice to James Edward Staley, Reference JXS02208, July 23, 2025. https://www.fca.org.uk/publication/final-notices/james-edward-staley-2025.pdf
|
||||
[^25]: "Former Barclays CEO Jes Staley slept with Epstein assistant, court hears," *Yahoo / PA Media,* 2025. https://www.yahoo.com/news/former-barclays-ceo-jes-staley-181703399.html
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