Peter Mandelson investigated by EU's anti-fraud watchdog as scandal takes new international twist

Susanna Siddell
Fri, 24 Apr 2026 21:31:16 +0000

Peter Mandelson is being investigated by the European Union's anti-fraud watchdog, with the scandal taking a new international twist.

The European Anti-Fraud Office (Olaf) has launched an investigation into the ex-Cabinet minister during his tenure as EU trade commissioner from 2004 to 2008.

A spokesman for the European office said: "Olaf can confirm the opening of an investigation on Mr Mandelson.

"However, as the investigation is ongoing, we cannot issue any further comment or statement."

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Reform UK leader Nigel Farage alerted Olaf to allegations back in February when he penned a letter to Petr Klement, the office's Director General, about the peer's relationship with Jeffrey Epstein.

The document said "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".

The Metropolitan Police arrested the peer on suspicion of misconduct in public office on February 23 after it was alleged he passed on market-sensitive Government information to Epstein.

Previously, former Cabinet minister Sir David Davis deployed parliamentary privilege to raise concerns beyond Lord Mandelson's relationship with the convicted paedophile.

He alleged the peer's relationship with Russian oligarch Oleg Deripaska "may be just as bad as the one he had with Epstein".

Lord Mandelson has denied any wrongdoing and has said that he regrets his relationship with the convicted child sex offender.

After the Russian invasion of Ukraine, Deripaska was one of seven oligarchs who was sanctioned by the British Government.

The US slapped sanctions on the businessman back in 2022 over the 2014 annexation of Crimea.

"As European trade commissioner, Mandelson made decisions favouring Deripaska’s company by $200million a year," Sir David claimed, addressing MPs in the House of Commons previously.

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He added: "Mandelson avoided proper investigation by lying about the timing of his relationship with Deripaska."

However, with the scandal engulfing Labour blazing on, Sir David took the opportunity to claim one of Labour's most influential figures "spent weekends with Deripaska in his dacha and in Moscow".

Olaf's investigation into the ex-Cabinet minister is the latest in the long line of developments surrounding Lord Mandelson.

Just yesterday, it was revealed Lord Mandelson's ties to Epstein were investigated by a crime agency months before he was appointed as the US ambassador.

The relationship between the ex-Cabinet minister and the convicted paedophile was assessed by the National Crime Agency back in 2024.

Lord Mandelson was officially confirmed to take on the top diplomatic role in December of that year.

A human rights activist reportedly met with the police bosses, holding several meetings to review the allegations.

Eventually, the allegations were swept under the rug after the authorities deemed the accusations were only based on hearsay.

On the matter, a spokesman from the NCA said: "The NCA does not routinely confirm or deny specific investigations or communications."

GB News has approached Peter Mandelson's legal team for comment.