LONDON – Former Barclays CEO Jes Staley admitted in court to having a sexual relationship with a staff member of Jeffrey Epstein, as he fights a proposed ban from financial services by the UK’s Financial Conduct Authority (FCA).

The FCA plans to fine Staley £1.8 million ($2.3 million) and ban him for allegedly misleading regulators about his ties to Epstein, a convicted sex offender. Staley, formerly a JPMorgan executive, denied knowing about Epstein’s criminal activities and insisted his interactions were professional.

The FCA’s case is based on a 2019 letter from Barclays’ chairman, stating that Staley was not close to Epstein and had cut ties before joining Barclays in 2015. However, the FCA presented over 1,000 emails between the two, in which Staley referred to Epstein as “family” and described their relationship as profound.

Additionally, Staley rejected an offer to be Epstein’s estate trustee and maintained that his previous statements about their connection were accurate.

This case follows lawsuits involving JPMorgan and the U.S. Virgin Islands, which alleged the bank ignored Epstein’s crimes, leading to legal scrutiny of Staley’s involvement.