Former Barclays CEO Jes Staley claims the bank had a ‘clear understanding’ of her eptentin connection

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Former Barclays Jes Staley CEO will claim that the bank had a “clear understanding” of the scope of his relationships with Jeffrey Epstein when he sent a letter to regulators describing the relationship as “not close” Opening a significant trial on Monday.

Staley tries to clean his name and abolish a prohibition of life -threatening of higher roles in the financial service industry that has been imposed on the Britain for the 2023 financial behavior in the UK. He stepped down as Executive Director of Barclays 2021. following FCA investigation the way he described his relationship with a shameful financier and sexual offender Epstein. Staley did not draw a letter, but FCA ruled that he “recklessly approved him.”

In his introductory statement, which he saw the Financial Times, Staley said he “explained enough details about his relationship with Mr Epstein, in conversations with higher heads and directors of the Barclays Committee.

“This was also one of the factors that made Barclays confidence in Mr. Staley after [the FCA] Opened and continued the investigation. “FCA started its probe in 2019.

Staley wants to deny the allegations of FCA with his introductory arguments that he has shown a “pattern of behavior” repeatedly misbehaving his relationship with Epstein to avoid damaging his career.

Former boss-barclays “was aware of the risk that his connection with Mr. Epstein represented his reputation and career,” Watchdog said in his arguments, which FT saw, adding that this was why he sought to “minimize the closeness and duration of his relationship.”

FCA said that Staley “had to be aware of” the risk of a letter of barclays in October 2019. It was wrong: this was stated that Staley had confirmed “he had no close relationship” with Epstein and last reported “well before Barclays in 2015”.

FCA was sent a cache e -mail From the former employer Staley Jpmorgan Chase, who the regulator believed had shown otherwise. This encouraged him to launch an investigation that eventually led to Staley a fine with £ 1.8 million and received a prohibition of life -long life.

“He was reckless in terms of that risk in allowing the wrong statements to authority, in circumstances when he was the only person in Barclays who actually knew the closeness of his relationship with Mr Epstein and to contact him,” FCA said in his introductory arguments.

Staley tried to frame his relationship with Epstein, who died in 2019 while waiting for trial of sex trade charges, as “one grounded in business” with some cases of social interaction.

“Mr Epstein had the most significant network of contacts,” Staley said in his introductory statement. “The range of his contacts and influences is not only astonishing, but probably unprecedented.”

Staley also claimed that there was a difference between what Barclays wanted to convey by letter – which Staley did not know or participate in Epstein’s crimes – and how FCA interpreted him.

“The letter was not intended, when it was composed and approved, defining the nature and history of Mr Staley’s relationship with Mr. Epstein,” the introductory statement said. “If it was his purpose, it would have been made and approved in very different conditions.”

FCA said that “she does not want to embarrass” Staley, nor “called the tribunal to conclude involvement in or knowledge of any violation by Mr. Epstein.”

He added that he had to “rely on the truth and integrity of the display on him and the openness in discovering things that would reasonably be expected to be informed of him.”

“This is an important case.. About the behavior of individuals who have more roles in the sector and who have given an example to the staff in their company,” it was said.

The two -week trial will be drawn in key city data, including the Governor of Bank of England Andrew Bailey, as well as Staley’s former colleagues in Barclay, who has long been sought to distance himself from the episode.