The Metropolitan Police are investigating Lord Peter Mandelson over alleged emails he sent to convicted sex offender Jeffrey Epstein concerning a €500 billion Eurozone bailout, which the force's commissioner said represented a potential criminal offence. The email in question is said to have involved forwarding internal government information about the UK economy to Epstein in June 2009 and giving advance notice of a €500bn EU bailout for Greece in May 2010. The investigation was confirmed by Met Police Commissioner Sir Mark Rowley, who stated that the email constituted a 'potential criminal offence'. The specific evidence that led the Met Police to deem the email a potential criminal offence has not been disclosed, and the exact content of the emails between Mandelson and Epstein regarding the bailout is still unclear.
The European Commission has asked the EU's anti-fraud agency, OLAF, to open an inquiry into Lord Mandelson's time as trade commissioner. OLAF confirmed it had launched an investigation into Peter Mandelson. Separately, the government has confirmed that the prime minister cannot overrule Parliament's security watchdog if it decides to publish documents relating to Mandelson's appointment as ambassador to Washington, according to multiple reports. The status of the OLAF investigation into Mandelson's time as trade commissioner is pending.
The email represented a 'potential criminal offence'.
Lord Mandelson has denied any wrongdoing. In a statement, he expressed deep regret for the association with Epstein, claiming he was 'taken in' by a 'charismatic criminal liar'. The former Labour peer has consistently maintained that his interactions with Epstein were limited and did not involve any impropriety.
Emails published as part of the Epstein files reveal that Mandelson was in close contact with the financier during the 2008 financial crisis. According to the documents, Mandelson forwarded internal government information about the UK economy to Epstein in June 2009. He also appeared to give Epstein advance notice of a €500 billion EU bailout for Greece in May 2010, though some reports describe this as confirming a yet-to-be-announced bailout. Additionally, Mandelson tried to secure changes to a planned tax on bankers' bonuses after conversations with Epstein. The relationship extended further back: Mandelson called Epstein his 'best pal' in a 2003 birthday book message, and his travel was paid for by Epstein that same year. After Epstein's 2008 conviction for soliciting a minor, Mandelson reportedly expressed support, telling Epstein he 'thought the world of him' and advising him to 'fight for early release'. Whether Mandelson actually passed confidential government information to Epstein remains unclear.
Lord Mandelson has denied any wrongdoing.
The scandal has had severe political repercussions. Mandelson was appointed British Ambassador to the United States in December 2024 but was dismissed in September 2025 after the Epstein files were released. He subsequently resigned from the Labour Party and the House of Lords. Prime Minister Keir Starmer said Mandelson 'betrayed our country, our Parliament, and my party'. The fallout also led to the resignation of Starmer's Chief of Staff, Morgan McSweeney, and civil servant Olly Robbins.
The broader political fallout has intensified, with several political leaders calling for Starmer's resignation, including Conservative leader Kemi Badenoch, Liberal Democrat leader Ed Davey, Reform UK leader Nigel Farage, Green Party co-leader Zack Polanski, Plaid Cymru's Liz Saville Roberts, and Scottish First Minister John Swinney. The calls reflect the deep unease over the government's handling of the Mandelson affair and its connections to Epstein.
Prime Minister Keir Starmer said Mandelson 'betrayed our country, our Parliament, and my party'.
In a related development, the Met Police are also reviewing a 'whole range of sexual allegations' against Prince Andrew, according to Sir Mark Rowley. However, he noted that four interviews with Virginia Giuffre did not provide evidence of sexual offending or trafficking that could be investigated in the UK. The review is ongoing, and the full scope of the sexual allegations against Prince Andrew that the Met Police are reviewing has not been made public.
Mandelson expressed deep regret for the association, claiming he was 'taken in' by a 'charismatic criminal liar'.