Mandelson's JP Morgan Lobbying for Rothschild Mining Venture Exposed in Epstein Files
Fresh revelations from the latest tranche of Jeffrey Epstein files have exposed how former Labour cabinet minister Peter Mandelson sought to use his influence to secure banking support for a major mining investment project launched by his friend, financier Nat Rothschild.
"Devious" Email Exchange Reveals Lobbying Efforts
According to emails released as part of the Epstein documents, Mandelson contacted Jes Staley, then a senior executive at JP Morgan, in April 2010 from his personal email account regarding Rothschild's planned £700 million listing on the London Stock Exchange. At the time, Mandelson served as both Business Secretary and de facto Deputy Prime Minister in Gordon Brown's government.
The correspondence shows Mandelson expressing pleasure that JP Morgan was "planning" to underwrite the investment vehicle alongside Credit Suisse. "I think it's a great idea from what I see of the global mining business (and their prices)," Mandelson wrote to Staley, adding Easter greetings to the banker's family.
Significantly, Mandelson appears to have shared this communication with Epstein, who maintained close ties with Staley. Epstein's response was telling: "You are sooooooooooooooo devious." This exchange suggests Mandelson was actively using his government position to advocate for his friend's financial interests.
Broader Pattern of Influence Emerges
The mining venture lobbying forms part of a broader pattern revealed in the documents. Just one month earlier, emails indicate Mandelson had lobbied the US government on behalf of both Epstein and Staley regarding financial regulations.
Epstein specifically asked Mandelson to arrange a meeting between Staley and Larry Summers, then director of Barack Obama's National Economic Council, concerning the proposed Volcker Rule. This regulation, introduced after the 2008 financial crisis, aimed to prevent major banks from engaging in risky proprietary trading.
"I would like you to ask Larry Summers if he would meet directly with Jes, and another jpm person, re the proposed volcker rule," Epstein wrote to Mandelson. "Larry is getting info third and fourth hand from senators who are getting it from lobbyists."
Mandelson agreed to facilitate this request, replying simply: "I can say this to him." Subsequent documentation suggests Mandelson incorporated talking points provided by Epstein during his meeting with Summers, with then-Chancellor Alistair Darling reportedly expressing gratitude for Mandelson's "intelligence."
Financial Transactions and Police Investigation
The documents further reveal financial connections between Epstein and Mandelson. According to Department of Justice records, Epstein provided Mandelson with $75,000 in payments during 2003 and 2004. Mandelson has stated he has "no record or recollection" of these transactions.
Additionally, Mandelson has confirmed that his partner at the time, Reinaldo da Silva (now his husband), received thousands of pounds from Epstein between 2009 and 2010. These financial ties add complexity to the relationship between the Labour peer and the convicted sex offender.
The Cabinet Office has now referred Mandelson to the Metropolitan Police following an assessment of emails found in the Epstein files. Officials have handed over documentation relating to claims that Mandelson leaked sensitive government information to Epstein.
Mandelson's Defence and Industry Context
In response to the emerging revelations, Mandelson has maintained that his actions while in government reflected broader industry interests rather than individual advocacy. "My conversations in government at the time reflected the views of the sector as a whole not a single individual," he stated this week.
This defence positions his lobbying efforts as part of legitimate government engagement with financial services rather than preferential treatment for personal associates. However, the timing and specific nature of the communications with Epstein and Staley raise questions about where industry advocacy ends and personal influence begins.
The emails paint a picture of a senior government figure operating through informal channels, using personal email accounts to discuss substantial financial matters involving close friends who were themselves interconnected through business and social relationships.
As police investigations proceed, these documents provide unprecedented insight into the intersection of political power, personal relationships, and financial influence during a critical period following the global financial crisis.
