Jeffrey Epstein tried to broker a lucrative deal with an American investment firm that would have netted Andrew Mountbatten-Windsor a £1 million advance, emails released by the US Department of Justice appear to show.
The former prince would have also received a 40 per cent cut of future profits in the link-up with Cantor Fitzgerald, with the same amount going to the firm and the remaining 20 per cent to German business consultant David Stern, according to one proposed version.
The plan to use Andrew’s connections to introduce ‘asset management firms, sovereign wealth funds, institutional investors and high net worth individuals’, reported by the Daily Telegraph, was discussed by Epstein and Stern in autumn 2013.
This was almost three years after the then Duke of York claimed to have severed ties with the billionaire.
The ten-year agreement, which did not ultimately go ahead, would have seen the advance paid to Urramoor, a company owned by Andrew through a trust. Fees from introductions would have paid off the loan.
In email exchanges between Epstein and Stern, the men discussed the terms of the deal.
Stern wrote at one point: ‘Instead of 50/50, can we do 40/40/20? 20 for me?’
He added: ‘This is original PA idea.’
David Stern, 48, shown sitting to the left of Queen Elizabeth II at a Pitch@Palace event in 2016, was lined up to profit from the deal alongside Andrew
A 2013 photo showed the cosy familiarity between Stern, Andrew Mountbatten-Windsor and Sarah Ferguson
Epstein replied ‘yes’ and Stern wrote ‘dankeschon’.
The terms were reportedly sent over by Howard Lutnick, the chairman and chief executive of Cantor Fitzgerald, who is now Donald Trump’s secretary of commerce and has faced scrutiny for his links to Epstein.
The draft agreement also appears to say Andrew would have to waive sovereign immunity for any breaches of the agreement.
This would allow legal action against him if there were a dispute. Andrew has always denied wrongdoing in relation to the Epstein case.
Stern recently resigned from his post at the University of Cambridge‘s Judge Business School.
He stepped down with ‘immediate effect’ after the school was asked about his relationship with the disgraced financier.
Details emerged as newly-released emails revealed Stern appeared to suggest to Epstein that he should invest in music company EMI as the industry ‘related to P’ – a derogatory euphemism Epstein used to refer to women.
Epstein replied that he was interested, according to the BBC, saying: ‘Do we need help – Mandelson?’
Lord Mandelson denies any suggestion that he was aware of Epstein’s sex crimes and has said he didn’t discover the truth until after his death in 2019.
Stern’s name appears 7,461 times in the ‘Epstein files’, where he refers to himself as a ‘soldier’ and the child sex offender as his ‘general’.
The men appeared to share sexually explicit messages and Stern was known as the ‘man in the palace’, keeping Epstein up to date with Andrew Mountbatten-Windsor’s movements.
The relationship continued following Epstein’s release from prison in 2009 after he admitted procuring a girl under the age of 18 for prostitution, the messages indicate, and continued until at least 2017.
Stern, 48, was appointed in January 2018 to the advisory board of JBS, which delivers programmes such as the Cambridge Management Studies Tripos, Master of Business Administration degrees, and eight PhD courses.
But he resigned with ‘immediate effect’ after the school was approached by business magazine Private Equity News about his relationship with Epstein, who committed suicide in prison.
A JBS spokesman said: ‘David Stern has resigned from the advisory board of Cambridge Judge Business School with immediate effect.’
He did not confirm whether it previously knew about the ties between the two men.
The school was founded in 1990 and its board, which meets twice a year, is made up of individuals from a range of firms and international organisations including senior figures at Investec Bank, McKinsey and Lenovo.
Stern requested 20 percent of the profits from the proposed deal, alongside Andrew Mountbatten-Windsor and firm Cantor Fitzgerald
The Epstein documents include one message where Stern appeared to ask Epstein to be godfather to one of his children in 2016, although the request was declined.
A 2014 birthday message seemingly from Stern to Epstein featured a photograph of an unidentified young woman having champagne poured over her body.
The men also appeared to discuss business deals, some relating to China, while Stern recommended buying Deutsche Bank in 2016.
Communications about Andrew included one that said ‘sitting with PA in Vietnam’.
In 2011, Stern apparently wrote: ‘I am going with PA to China on 23 October… I stay in the background/hidden. Just make the arrangements.’
Two years later he sent Epstein a photo of himself with Andrew and his ex-wife Sarah Ferguson.
Another picture from 2016 showed Stern sitting next to Queen Elizabeth II at a Pitch@Palace event.
He had been appointed director of Andrew’s Dragons’ Den-style business venture that year but resigned shortly after Epstein’s death.
However, Stern remained a director of the St George’s House Trust – which nurtures ‘wisdom through dialogue’ to achieve ‘trust, equality and peace’ – at Windsor Castle, until 2022. He was given the post in 2016.
One interaction with Epstein followed Ferguson’s 2011 public statement that she regretted her association with the financier.
Stern appeared to write to him: ‘Is she going crazy??? When can I call you?’
The Epstein files also refer to Andrew appearing to try to arrange a meeting between Epstein and Libyan dictator Muammar Gaddafi in 2010, when it is thought the then prince was acting as the UK’s Special Representative for International Trade. Andrew has always denied any wrongdoing in connection with the Epstein case.
Epstein emailed Stern to say Gaddafi ‘asked me if I want to meet him as he does not know where to put his money’.
He also wrote ‘I want to go to Tripoli lets organise with pa(sic)’ – although the meeting didn’t take place in the end.
The emails reveal the discussions about EMI, with Stern forwarding a news article about the company’s financial difficulties in 2010 – two years before it ended up being bought by Universal Music.
‘Troubled industry but related to P,’ Stern appeared to write to Epstein.
Stern declared it was ‘too early to get Mandelson involved before i know more’.
Epstein appears to have emailed Lord Mandelson – who at the time was serving in the UK government as First Secretary of State and Business Secretary – a few days later, saying: ‘Please email me bens contact info.. or havehim cal me re emi. [sic]’
Mandelson appeared to reply: ‘Gave to [redacted]. Email is [redacted]. Talk re EMI ??’
It is not clear who ‘ben’ refers to.
A spokesman for Lord Mandelson said: ‘Lord Mandelson regrets, and will regret until to his dying day, that he believed Epstein’s lies about his criminality.
‘Lord Mandelson did not discover the truth about Epstein until after his death in 2019.
‘He is profoundly sorry that powerless and vulnerable women and girls were not given the protection they deserved.’
Stern also wished Epstein ‘lots of P’ in birthday and New Year messages and offered to obtain fashion show tickets for him to ‘review Chinese P’.
And a ‘P factor’ was given for some occasions. The Spanish holiday island of Ibiza rated a 9/10, while Ferguson’s birthday party got 0.2/10.
Stern, who is currently understood to be residing in the United Arab Emirates, used his company, Asia Gateway, later known as Witan Group, to advise European firms about investing in China. He was contacted for a statement.