Story perspectives

OLAF probes Mandelson's alleged €500 bn bailout warning to Epstein

4/24/2026

Summary

Story summary

OLAF opened a formal investigation into Lord Peter Mandelson (EU trade commissioner 2004-2008) for his conduct.
The agency received information from a European Commission request two months ago and will conduct IT forensics on the communications.
The probe will examine alleged emails in which Lord Peter Mandelson warned Jeffrey Epstein about a €500 billion eurozone bailout in 2010, and may refer the case to the European Prosecutor’s Office for pension revocation.

History

Historical Context

The Santer Commission fell on 15 March 1999 after a Committee of Independent Experts, appointed by the European Parliament, found widespread responsibility gaps, prompting the entire 20-member college to resign. In response, the EU created the anti-fraud office OLAF in June 1999. Today OLAF’s probe of former trade commissioner Peter Mandelson echoes that 1999 precedent.

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Story summary

OLAF opened a formal investigation into Lord Peter Mandelson (EU trade commissioner 2004-2008) for his conduct.
The agency received information from a European Commission request two months ago and will conduct IT forensics on the communications.
The probe will examine alleged emails in which Lord Peter Mandelson warned Jeffrey Epstein about a €500 billion eurozone bailout in 2010, and may refer the case to the European Prosecutor’s Office for pension revocation.

1 / 2