OLAF Investigates Lord Mandelson's 2004-2008 EU Tenure, Epstein Allegations

The European Anti-Fraud Office, known as OLAF, has opened an investigation into Lord Peter Mandelson over his ties to Jeffrey Epstein, according to Reuters and OLAF's own confirmation. The office stated it has sufficient information to proceed with the probe, which centers on Mandelson's tenure as EU trade commissioner from 2004 to 2008.

An OLAF spokesman confirmed the opening of the investigation on Mr.

Mandelson but noted that no further comments could be issued as it remains ongoing. Reform UK leader Nigel Farage alerted OLAF to the allegations in February by writing a letter to Petr Klement, the office's Director General, detailing Lord Mandelson's relationship with Epstein.

In the letter, Farage stated that at the height of the Eurozone crisis, Lord Mandelson leaked to Epstein the fact that the EU had confirmed a €500 bailout for Greece hours before it was publicly announced.

This allegation of sharing market-sensitive information forms a key part of the concerns raised. The Metropolitan Police arrested Lord Peter Mandelson on suspicion of misconduct in public office, following claims that he passed on market-sensitive Government information to Epstein.

Separately, Lord Mandelson's ties to Epstein were investigated by the National Crime Agency in 2024, months before he was officially confirmed to take on the role of US ambassador in December 2024.

A human rights activist reportedly met with police bosses to review the allegations against Lord Mandelson. The National Crime Agency declined to confirm or deny specific investigations. Previously, former Cabinet minister Sir David Davis raised concerns about Lord Mandelson's relationship with Russian oligarch Oleg Deripaska using parliamentary privilege.

Davis alleged that Lord Mandelson's relationship with Russian oligarch Oleg Deripaska may be just as bad as the one he had with Epstein. He claimed that as European trade commissioner, Mandelson made decisions favoring Deripaska’s company by $200 million a year. Sir David Davis further stated that Mandelson avoided proper investigation by lying about the timing of his relationship with Deripaska.

Oleg Deripaska was one of seven oligarchs sanctioned by the British Government after the Russian invasion of Ukraine. The US imposed sanctions on Oleg Deripaska in 2022 over the 2014 annexation of Crimea. These sanctions highlight the international scrutiny on Deripaska's business activities, which Davis linked to Mandelson's decisions during his EU role.

Lord Mandelson has denied any wrongdoing and expressed regret over his relationship with Epstein, the convicted child sex offender. The OLAF investigation represents the latest development in a series of inquiries into Mandelson's past associations, building on the National Crime Agency's 2024 review and the Metropolitan Police arrest.

Farage's February letter specifically tied the Epstein relationship to the Eurozone crisis bailout leak, prompting OLAF's action.

Davis's parliamentary statements expanded the allegations to include Deripaska, emphasizing decisions that allegedly benefited the oligarch's company financially. The allegations reviewed by authorities were deemed based on hearsay and not pursued further. OLAF's probe into the 2004-2008 period examines potential misconduct during Mandelson's trade commissioner tenure.

The EU anti-fraud office's confirmation of sufficient information underscores the basis for launching this formal investigation.