Epstein's EMI Investment Plan for Access to Women Revealed in Released Emails
Convicted paedophile Jeffrey Epstein showed interest in acquiring the EMI music label after a business associate suggested the investment would provide him with access to women, according to newly released documents from the financier's extensive files.
Music Industry 'Related to P' According to Epstein Associate
The United States Department of Justice published millions of Epstein's emails and files in February, releasing over 2,000 videos, 18,000 images and 1.4 million emails that the United Nations Human Rights Council suggests point to a "global criminal enterprise." Among these documents, an email exchange between Epstein and businessman David Stern reveals the financier's consideration of investing in EMI because the music industry was "related to P" - Epstein's apparent abbreviation for the vulgar slang term "p***y" that he frequently used when referring to women.
In a February 2010 email, Stern informed Epstein: "Troubled industry but related to P: EMI (music) needs approx US$ 190m to survive or may be taken over by Citigroup. Terra Firma own EMI, my friend is in charge of this investment. Should I talk to them?" Epstein responded that he was "interested" and inquired whether they required assistance from Peter Mandelson, who served as First Secretary of State and Business Secretary for the United Kingdom at that time.
Epstein's Communications with UK Officials and Music Executives
Stern advised Epstein that his friend was a "right hand man" to the boss of Terra Firma and that meetings were scheduled to discuss the opportunity. "In my view it is too early to get Mandelson involved before I know more," Stern added. "It seems that the debt mountain is too big, covenant breach is imminent and citigroup want to take control."
Epstein appears to have contacted Mandelson directly several days later, requesting "bens contact info" and to "havehim cal me re emi [sic]." Mandelson replied: "Gave to [redacted]. Email is [redacted]. Talk re EMI??" The Independent has contacted Mandelson's representatives for comment regarding these communications.
Epstein subsequently told Stern he would bring in his friend Tony Mottola, the former Sony Music company CEO, to "fix" EMI if he proceeded with the investment. Mottola appears in approximately 600 documents within the Epstein files, though appearing in these files does not indicate wrongdoing alone. The Independent has also contacted Mottola's representatives for comment.
Continued References to 'P' in Subsequent Communications
In later emails, Stern continued using the letter "P" when referring to women. In September 2011, he asked Epstein whether he wanted tickets to a "special Chinese catwalk" at London Fashion Week to "review Chinese P." That same year, Stern attempted to convince Epstein to acquire EMI again, stating: "EMI may now come up for sale. Could actually be of interest to Chinese if structured properly. Also, most certainly great asset to have for P!"
In January 2016, Stern sent Epstein a birthday message that read: "HAPPY BIRTHDAY and blessings of health and lots of P."
EMI Investment Discussions Continue Despite Company's Fate
Although Epstein's investment deal with EMI never materialized as Citigroup took control of the company, Epstein's associates discussed a potential bid for EMI again in 2011. Connecticut businessman Kevin Law wrote to Epstein: "Tell your buddy Andrew from the UK if he's interested in EMI as we discussed I can put him in the syndicate w KKR." It remains unclear whether Law was referring to Andrew Mountbatten-Windsor in this email.
Law told BBC News he "never bid on EMI with any group" or did "a business deal with Epstein." He also stated that he did not know Mountbatten-Windsor. KKR, a private equity firm that held a significant stake in EMI's rival BMG at the time, has been contacted by The Independent for comment.
EMI ultimately became defunct after being acquired by Universal Music in 2012. During its operational years, it stood as one of the world's largest record companies with prestigious labels including EMI Records, Parlophone, Virgin Records and Capitol Records.
Epstein's Criminal History and Death in Custody
Jeffrey Epstein was in custody for federal charges of sex trafficking minors when he died by suicide at age 66 in August 2019. He had previously served 18 months in prison in 2008 for procuring a child for prostitution and soliciting a prostitute in Florida. The newly released emails provide further insight into the financier's business dealings and his apparent motivations for considering investments in the music industry.
