Ex Barclays CEO Jes Staley argues bank had ‘clear understanding’ of his Epstein ties

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The former CEO of Parklis Jess Stalli will confirm that the bank had a “clear understanding” of the extent of his relationship with Jeffrey Epstein when he sent a letter to the organizers describing the relationship as “not close”, in A. Historical experimental opening on Monday.

Stallie tries to clarify his name and cancel a lifetime ban from the upper roles in the financial services industry imposed by the UK’s financial behavior authority in 2023. He resigned from that. Barclays CEO in 2021 after FCA investigation One of the way he described his relationship with the disgraceful and sexual perpetrator Epstein. Stallie did not formulate the message, but FCA ruled that he “agreed recklessly.”

In his opening statement, which was seen by Financial Times, Stallie said that he “made clear sufficient details about his relationship with Mr. Epstein, in talks with senior executives and board managers in Barclays.

“This was also one of the factors that caused Barclays confidence in Mr. Stallie after that [the FCA] I opened and continued to investigate. FCA started the investigation in 2019.

Staley seeks to refute the allegations that FCA made in its opening arguments as a “pattern of behavior” in distorting his relationship with Epstein repeatedly to avoid destroying his career.

In his arguments, which was witnessed by Financial Time, he said, adding that this is the reason that he sought to “reduce proximity and the duration of his relationship”, “the former Paliblis coach” was aware of the dangers that his association with Mr. Ibstein on his reputation and professional life, “adding that this is the reason that” he sought to reduce his proximity to his relationship and the duration of his relationship. “

FCA said that Stallie “must be aware” at the risk of being a message from Barclays to the International Energy Agency in October 2019 will be misleading: This stated that Stallie confirmed “had no close relationship with Epstein, and that they were others who contacted” before Barclays joined in 2015 “.

FCA has been sent E -mail messaging memory From the former employer at Staley Jpmorgan Chase, who believes the organizer showed otherwise. This led to the launch of the investigation, which eventually led to a fine of 1.8 million pounds and a lifelong ban.

“He was reckless with regard to this danger to allow the misleading data of power, in the circumstances in which he was the only person in Barclays, who was already known near his relationship with Mr. Epstein and repeated his contact with him,” FCA said in its opening arguments.

Stallie sought to fram his relationship with Epstein, who died in 2019 while waiting for trial for sex trafficking, as “one at work” with some cases of social interaction.

“Mr. Epstein had the most prominent network of contacts,” Stallie said in his opening statement. “The scope of its connections and its effect is not only amazing, but it is likely that it is likely without a precedent.”

Stallie also argued that there was a contrast between what Barclays wanted to transfer to the message – that Stallie did not know or participate in the Crime of Epstein – and how FCA explained it.

His opening statement said: “The intended message was not when it was formulated and approved, to determine the nature and history of Mr. Stali’s relationship with Mr. Ibstein.” “If this was its purpose, it would have been formulated and approved in very different phrases.”

FCA said it “does not seek to embarrass” Staley, and it was not “the court’s call to conclude participating in any misconduct by Mr. Epstein.”

He added that he needs to be able to “rely on the health and completion of the representations that were presented to them and openness in revealing the things that you expect to be submitted in a reasonable way.”

This is an important case. . . About the required behavior of individuals who occupy great roles in the sector and who have given an example of employees in their company.

The two -week trials will attract major personalities in the city, including the governor of England Bank Andrew Billy, as well as former Stallie colleagues in Barclays, who has long sought to stay away from the episode.