Explosive new documents released by the U.S. Department of Justice (DOJ) have thrown disgraced former U.K. Cabinet minister Peter Mandelson back into the spotlight, as newly revealed emails show he secretly funneled market-sensitive government information to Jeffrey Epstein during the height of the global financial crisis.
The disclosures, contained in the latest tranche of so-called Epstein Files, suggest Mandelson, then serving as business secretary under former Prime Minister Gordon Brown, shared confidential policy discussions, draft bailout plans, and internal government strategy with Epstein as markets teetered on collapse.
The revelations have triggered an escalating political and legal crisis in Britain, with police now reviewing complaints, senior officials calling for Mandelson’s removal from the House of Lords, and the Labour government scrambling to contain the fallout.
Notably, Mandelson, an outspoken critic of President Donald Trump, was removed last year from his role as Britain’s ambassador to the United States after his deep ties to Epstein emerged.
Leaked Emails Point to Insider Access
According to reporting cited by The Guardian, emails forwarded to Epstein from the highest levels of the U.K. government included:
• A confidential document outlining £20 billion in potential government asset sales
• Mandelson boasting he was “trying hard” to change policy on bankers’ bonuses
• Advance details of a €500 billion eurozone bailout, shared before public announcement
• Suggestions that JPMorgan executives should “mildly threaten” the chancellor
• Apparent early notice of Brown’s impending resignation
In one June 13, 2009 email, a memo circulated by then-Downing Street adviser Nick Butler detailed sensitive policy options and potential asset sales.
Mandelson forwarded it to Epstein with the note:
“Interesting note that’s gone to the PM.”
Epstein replied, asking what assets were for sale.
A response, sent from a redacted address, answered: “Land, property, I guess.”
Months later, the British government announced plans to sell surplus property to raise £16 billion.
Butler later said he was “disgusted” by the apparent breach of trust, adding that such disclosures appeared designed to give Epstein an opportunity to profit.
Bailouts, Pressure Campaigns, and Advance Warnings
Further emails show Epstein pressing Mandelson to confirm a massive eurozone bailout.
Mandelson reportedly indicated that it would be announced that same evening.
Lord Mandelson gave Jeffrey Epstein advance notice of a €500bn bailout to save the Euro
He messaged Epstein about the bailout on the evening of May 9, 2010
It was formally announced the following morning pic.twitter.com/btejzVTvxV
— Steven Swinford (@Steven_Swinford) February 2, 2026
The following day, Epstein appeared to receive advance notice of Brown’s resignation.
In another exchange, Epstein asked whether JPMorgan CEO Jamie Dimon should contact Chancellor Alistair Darling.
Mandelson responded that Dimon should “mildly threaten” him, a suggestion later corroborated by reporting that such calls did occur.
Political Establishment in Damage-Control Mode
The scale of the disclosures has forced current Prime Minister Keir Starmer to order an investigation by the cabinet secretary and publicly demand Mandelson’s resignation from the House of Lords.
Brown separately requested a formal inquiry into whether government secrets were improperly leaked during the financial crisis, calling the new revelations “shocking.”
Opposition parties have gone further.
The Scottish National Party and Reform UK have referred Mandelson to the police for alleged misconduct in public office.
Labour’s own foreign affairs committee chair, Emily Thornberry, said the allegations must be examined as a potential criminal matter.
The Metropolitan Police confirmed it has received multiple reports and is assessing whether the evidence meets the threshold for a criminal investigation.
Financial Ties Raise Even More Red Flags
The Epstein Files have also reignited scrutiny of Mandelson’s financial relationship with the disgraced financier.
Earlier documents suggest Epstein paid $75,000 into accounts linked to Mandelson.
Another transfer allegedly sent £10,000 to Mandelson’s partner, Reinaldo Avila da Silva, to fund education and expenses.
A former adviser described Mandelson’s conduct as “treacherous,” saying colleagues who worked through the crisis feel deeply betrayed.
House of Cards Falling
Meanwhile, Gordon Brown has written to the head of the Metropolitan Police over Mandelson’s contact with Epstein, accoridn to breaking reports on Tuesday.
The former prime minister said in a statement, sent to the Press Association, that he had written to the police commissioner, Sir. Mark Rowley, “with information relevant to his investigation of Mandelson’s disclosure of market-sensitive and confidential government information” to the pedophile financier.
The Metropolitan Police earlier said that officers had received a referral from the government over Mandelson’s emails to Epstein.
A spokesperson said:
“We can confirm that a referral from government has been received.
“We anticipate that we’ll provide a further update later.”
No Escape From the Fallout
Mandelson resigned his Labour Party membership over the weekend, but has not relinquished his peerage.
Downing Street has urged reforms to allow peers accused of serious misconduct to be removed, an extraordinary step with virtually no modern precedent.
Chief Secretary to the Treasury Darren Jones told Parliament:
“No government minister of any political party should have, nor ever should behave in this way.”
No timetable has been set for the Cabinet Office review, and it remains unclear whether its findings will be made public.
But the damage is already done.
As more Epstein-linked documents surface, the picture that continues to emerge is not just one of personal disgrace, but of an entrenched political elite quietly feeding power, privilege, and inside information to one of the most notorious criminals in modern history.
And this time, the paper trail is catching up.
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