Krishnamoorthi, Khanna Demand Answers From Barclays On Jes Staley’s Epstein Links

India-West News Desk

WASHINGTON, DC – Congressmen Raja Krishnamoorthi and Ro Khanna have joined Senator Elizabeth Warren in pressing Barclays to explain how it handled former CEO Jes Staley’s long-running association with convicted sex offender Jeffrey Epstein, saying the bank’s actions raise serious questions about oversight of senior leadership.

The three Democrats, who sent a letter to Barclays Chairman Nigel Higgins on July 23, are seeking details about the bank’s vetting of Staley before he became chief executive, its review of his ties to Epstein, communications with regulators, the circumstances surrounding his resignation, and any contact with U.S. banking regulators after additional Epstein-related records surfaced. They requested a response by Aug. 5.

The lawmakers said Barclays told U.K. regulators in 2019 that Staley had stated he “did not have a close relationship” with Epstein. They argue later reporting has contradicted that account.

“As has now been extensively reported, however, Staley and Epstein maintained a close professional and personal relationship for nearly two decades, including during his tenure at Barclays,” the letter states. “It is deeply unclear how Barclays, in supposedly investigating Staley’s connection to Epstein, failed to uncover this decades-long relationship.”

The letter cites reports that Staley defended Epstein while at JPMorgan, stayed in touch after Epstein’s 2008 conviction for soliciting sex from a child, exchanged more than 1,200 messages with him, visited Epstein’s private island, remained in contact after becoming Barclays CEO, and that Epstein tried to help him secure the bank’s top job.

The lawmakers said Barclays’ handling of the matter raises broader questions about accountability at the bank.

“Barclays’ apparent failure to meaningfully investigate or address Staley’s relationship with Epstein raises significant governance questions regarding the bank’s ability to hold senior executives accountable for wrongdoing,” the letter says.

Barclays’ extensive U.S. operations make its governance practices and oversight of senior executives a matter of interest to American regulators and Congress, the lawmakers said.