Epstein eyed record label investment to access women, files suggest

A convicted sex offender was casually emailing a serving Cabinet minister about acquiring one of Britain's most iconic music companies. The reason his associate wanted the deal? What he called the 'P factor' — industry access to women. Newly released emails from the US Department of Justice reveal how Jeffrey Epstein's network assessed legitimate business opportunities through the lens of exploitation, with direct assistance from the highest levels of British government.

The correspondence shows Jeffrey Epstein discussed investing in EMI with then-Business Secretary Lord Mandelson in 2010, two years after his conviction for procuring a minor for prostitution. His associate David Stern explicitly flagged the music sector as "related to P" — believed to be an abbreviation of "pussy", a term Epstein frequently used to refer to women. The exchange began when Stern forwarded Epstein a news article about EMI's financial difficulties in February 2010.

His assessment was brutally transactional: "Troubled industry but related to P." What's striking is not merely the content of these messages, but the casual confidence with which they were written. This wasn't coded language or careful euphemism. It was an explicit statement of intent.

The Mandelson connection

Epstein's response was immediate and telling. He asked whether they needed "help - mandelson?" [sic], referring to Peter Mandelson, who at the time held two of the most senior positions in Gordon Brown's government as First Secretary of State and Business Secretary. What's striking here is not just that a convicted sex offender had direct access to a Cabinet minister, but that he felt comfortable enough to propose using that access for a major industry acquisition.

Stern initially demurred, saying it was "too early to get Mandelson involved before i know more." Within days, however, Epstein appears to have contacted Mandelson directly, asking for contact information regarding EMI. Mandelson's apparent reply — "Gave to [redacted]. Email is [redacted]. Talk re EMI ??" — suggests he provided the information requested.

The documents show no evidence of due diligence about why a registered sex offender wanted an introduction related to a music industry deal. Lord Mandelson did not respond to requests for comment. His representatives have previously maintained that contact with Epstein does not imply knowledge of his activities or associations. The proposed deal never materialised, with EMI's primary lender Citigroup ultimately taking control before splitting and selling the company in 2012.

What's striking here is not just that a convicted sex offender had direct access to a Cabinet minister, but that he felt comfortable enough to propose using that access for a major industry acquisition.

A pattern of exploitation

The EMI emails form part of a broader pattern documented in the DOJ files. Stern routinely sent Epstein a "P factor" rating for locations and events — giving Ibiza 9/10, whilst Sarah Ferguson's 50th birthday party received a dismal 0.2/10. He would wish Epstein "lots of P" for birthdays and New Year, and once offered to secure fashion show tickets "to review Chinese P".

French prosecutors have previously suspected that Epstein used contacts in the fashion industry, particularly his relationship with modelling agent Jean-Luc Brunel, to facilitate trafficking of young women. The newly released documents show similar discussions about acquiring model agencies and fashion-related businesses, though none appear to have completed.

This systematic approach — evaluating business sectors based on their potential to provide access to vulnerable women — transforms the nature of what might otherwise appear as routine investment discussions. Epstein wasn't simply a wealthy financier with diverse interests. He was assessing entire industries as potential hunting grounds.

Epstein wasn't simply a wealthy financier with diverse interests. He was assessing entire industries as potential hunting grounds.

The intermediary's role

Stern emerges from these documents as more than a deal-maker. He acted as a financial intermediary between Epstein and Andrew Mountbatten-Windsor over Sarah Ferguson's debt problems, and later directed the former prince's Pitch@Palace business competition. His emails to Epstein consistently flagged potential investments with explicit reference to their exploitation potential.

By 2011, discussions about acquiring a record label continued. Kevin Law, a Connecticut businessman who corresponded regularly with Epstein, wrote: "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." The identity of this "Andrew" is not clear from the documents.

Law has stated he "never bid on EMI with any group nor did I ever do a business deal with Epstein," and said he did not know Andrew Mountbatten-Windsor. KKR, the private equity firm mentioned, declined to comment. Appearance in the Epstein files does not constitute evidence of wrongdoing.

The documents name numerous business figures, including former Sony Music CEO Tommy Mottola, whom Epstein suggested could be "brought in to fix" EMI if an acquisition proceeded. Mottola's name appears more than 700 times in the released files. He did not respond to requests for comment.

What the emails reveal

The significance of these documents extends beyond any individual conversation. They demonstrate how a convicted sex offender maintained access to the highest levels of British political and commercial life during a period when basic background checks should have raised immediate red flags. Epstein was corresponding about major industry deals with government ministers whilst his associates openly discussed investments in terms of sexual access.

The question of what due diligence was performed — or whether any was required — by those in Epstein's orbit remains unanswered. These exchanges occurred in 2010, well after his 2008 conviction became public record. The luxury of claiming ignorance had long since expired.

The music industry ultimately escaped Epstein's interest when his proposed deals collapsed. Whether that outcome reflected commercial realities or other factors, the documents suggest his network continued to view entertainment and fashion sectors as targets well into 2011, always with the same underlying calculus. The industry wasn't just an investment opportunity. According to his closest associates, it offered something else entirely.