Lord Peter Mandelson Under Formal EU Anti-Fraud Office Investigation Over Misconduct Allegations
Lord Peter Mandelson, formerly the UK ambassador to the US, is now subject to a formal investigation by the European Anti-Fraud Office (Olaf). The probe centres on allegations of misconduct during his four-year term as European trade commissioner, from 2004 to 2008.
Olaf confirmed its investigation commenced recently, citing "sufficient information" to proceed. While the office has not yet confirmed if fraud is specifically alleged, its mandate covers all four years of Mandelson's commissionership and is limited to EU institutional staff and members. The Metropolitan Police earlier this year initiated a separate criminal investigation into Mandelson over market-sensitive information he allegedly passed during his 2009 tenure as UK business secretary, also linked to Epstein.
Allegations include that Lord Mandelson provided Epstein with advance notice of the EUR#500bn eurozone bailout in 2010. Lord Mandelson has not publicly commented on these specific allegations but has reportedly denied any criminal conduct or financial motivation.
Olaf's role is to investigate fraud, corruption, and serious misconduct within EU institutions, particularly concerning the EU's budget. The office lacks prosecutorial powers but can recommend judicial, financial, administrative, or disciplinary sanctions to relevant EU authorities, potentially including the revocation of a former commissioner's pension. Any criminal elements identified would be referred to the European Prosecutor's Office. Documents from the period will be analysed, including IT forensics where available.
Lord Mandelson's close ties to the late sex offender Jeffrey Epstein led to his dismissal as UK ambassador to the US in September 2025. The repercussions of this association continue to unfold, with recent revelations from Sir Olly Robbins, former top civil servant at the Foreign Office, who claimed he was pressured to expedite Mandelson's ambassadorial appointment.
