"The sharing of confidential information with a private financier could easily have provided an unfair and lucrative advantage in the financial markets, either by Epstein himself or by his associates, Cooper said in the letter, seen by the Guardian. Mandelson could also have personally profited from this arrangement. She added: He and others must face criminal prosecution if they are found to have abused trading laws for financial benefit."
"The Liberal Democrats have urged the UK's financial regulator to immediately investigate Peter Mandelson, saying his apparent decision to leak highly confidential government information to the disgraced financier Jeffrey Epstein may have led to insider trading. Insider dealing is a serious criminal offence, with the harshest penalty in the UK resulting in 10 years in jail, or up to seven years for offences committed before 1 November 2021."
"The letter to the FCA comes after emails in the latest tranche of Epstein files appeared to show that Mandelson, when serving as the business secretary under the then prime minister, Gordon Brown, gave Epstein advance warning of market-moving events. That apparently included information on sensitive fiscal and political developments including Brown's own resignation, as well as a 500bn eurozone rescue deal. Those emails appear to have been sent to Epstein hours before they were publicly announced in May 2010."
The Liberal Democrats have asked the UK financial regulator to investigate Peter Mandelson for allegedly leaking highly confidential government information to Jeffrey Epstein, potentially enabling insider trading. Daisy Cooper urged the FCA to establish whether Mandelson or recipients profited from access to market-sensitive material after the 2008 financial crisis. Confidential information shared with Epstein could have given Epstein or his associates an unfair trading advantage, and Mandelson might have personally benefited. Insider dealing carries up to 10 years' imprisonment in the UK, or up to seven years for offences before 1 November 2021. Emails suggest advance warnings of May 2010 market-moving events.
Read at www.theguardian.com
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