The EU's anti-fraud office has begun a formal investigation into Lord Peter Mandelson, who was sacked as UK ambassador to the US over his ties to late sex offender Jeffrey Epstein. Lord Mandelson served as European trade commissioner from 2004 to 2008, during which the European Commission requested the European Anti-Fraud Office (Olaf) investigate allegations of misconduct.
Olaf confirmed it had 'sufficient information' to launch an investigation, though it is too early to determine if it pertains to fraud. The office will be examining exchanges between Mandelson and Epstein from his time as commissioner, but the investigation also may include emails related to the eurozone financial crisis in 2010. Allegations suggest that Mandelson provided Epstein with advance notice of a significant bailout aimed at preventing financial turmoil in Greece from affecting other eurozone countries.
While Mandelson has not publicly commented, he is understood to have denied acting criminally and claimed no financial motivation. Olaf can investigate fraud affecting the EU budget and recommend sanctions, though it lacks prosecutorial power, which would be the responsibility of the European Prosecutor's Office.
The unfolding of events surrounding Mandelson's relationship with Epstein has highlighted significant political implications, especially following the former civil servant's claims that he was pressured regarding Mandelson's appointment as ambassador. The investigation by Olaf stems from earlier email exchanges that led the UK's Metropolitan Police to look into possible breaches of insider trading laws during Mandelson's later role as business secretary.
Olaf confirmed it had 'sufficient information' to launch an investigation, though it is too early to determine if it pertains to fraud. The office will be examining exchanges between Mandelson and Epstein from his time as commissioner, but the investigation also may include emails related to the eurozone financial crisis in 2010. Allegations suggest that Mandelson provided Epstein with advance notice of a significant bailout aimed at preventing financial turmoil in Greece from affecting other eurozone countries.
While Mandelson has not publicly commented, he is understood to have denied acting criminally and claimed no financial motivation. Olaf can investigate fraud affecting the EU budget and recommend sanctions, though it lacks prosecutorial power, which would be the responsibility of the European Prosecutor's Office.
The unfolding of events surrounding Mandelson's relationship with Epstein has highlighted significant political implications, especially following the former civil servant's claims that he was pressured regarding Mandelson's appointment as ambassador. The investigation by Olaf stems from earlier email exchanges that led the UK's Metropolitan Police to look into possible breaches of insider trading laws during Mandelson's later role as business secretary.
