Andrew Mountbatten-Windsor and Jeffrey Epstein planned to launch a business in China after Epstein's conviction. Photo / Getty Images
Andrew Mountbatten-Windsor and Jeffrey Epstein secretly planned to launch a business together in China years after the financier was convicted of a child sex offence, the Telegraph can disclose.
Emails released in the latest cache of Epstein files show plans for the former prince to launch a Beijing consulting firm with the paedophile after his release from jail for soliciting sex from a minor.
Business discussions between the pair, which were conducted through a mutual liaison called David Stern, apparently continued for more than five years after Epstein was released from prison.
The disclosure undermines Mountbatten-Windsor’s claims that he broke off relations with Epstein during a walk in Central Park in December 2010. It suggests that the meeting may instead have been part of efforts to broker a business deal.
The Telegraph has seen evidence that the former Duke of York also used trips to China as part of his trade envoy role to host business meetings for his and Epstein’s gain.
It will raise further questions about Mountbatten-Windsor’s conduct as the UK’s official trade envoy from 2001 to 2011. Police said on Monday they were assessing whether to investigate claims the former prince leaked confidential information to Epstein while in the Government post.
Stern, an aide for Mountbatten-Windsor, floated the business venture to Epstein in an email on July 24, 2010, when the paedophile was still under house arrest for a child sex offence. The emails refer to the former Duke of York as “PA”, short for Prince Andrew.
“Totally remote idea for your consideration, based on your liking of private wealth management. We set up small investment highly private office in London with small outpost in Beijing, for high net-worth individuals – targeting Chinese (but not exclusively) that works like an extended family office,” Stern said.
“We very discreetly make PA part of it and use his ‘aura and access’, you make/decide on the investments and I manage the day to day operations/Chinese client management & acquisition....”
Further emails show the idea gathered pace in the following months and resulted in a company, The Witan Group, being established in 2011 with Mountbatten-Windsor and Epstein’s approval. It is not related to the Witan Investment Trust, which was founded in 1909.
Some of Epstein’s close confidants appear to have been brought into the discussions. A diary note shows a planned meeting between Epstein, Stern and Jes Staley, then an executive at the Wall Street bank JP Morgan, at the St Regis Hotel in Beijing in 2010 to discuss the business.
The meeting, scheduled for 5.30pm on September 2 that year, took place on the then-prince’s official visit to China as trade envoy. Mountbatten-Windsor was in the country on official duties from September 2 to 11 that year.
In February 2011, Stern emailed Epstein announcing the name for the new company. “WITAN. What do you think? PA likes it and since he did not know what it was when I told him it should be safe: Witan, also called Witenagemot,7th 11th Century, the council of the Anglo-Saxon kings in and of England,” he said.
The former duke’s aide appeared to suggest that Epstein’s behind-the-scenes involvement in the company would distract from growing scrutiny over his relationship with Mountbatten-Windsor. Sarah Ferguson, referred to as S in their emails, also faced criticism over her links with the paedophile.
In an email to Epstein in March 2011, Stern said: “It seems the media strategy is now to split up the focus by two debates: 1. PA good trade envoy or not? Business leaders state publicly yes, while no/little mention of JE.
“Two, another terrible mistake from S. accepting money from convicted child abuser and she’s so sorry for dragging PA into it.”
He followed up in May that year to tell Epstein that the company had been assigned a Chinese name: “伟特安 pronounced ‘Wei Te An’ 伟= great, powerful, robust 特= special, unique, distinguished 安= secure, trust.”
Epstein was also provided with a brief description of the company’s planned business dealings, with offices set for Beijing and London. Stern told him on May 3, 2011: “I need to get a company description ready which may be used later as well. What do you think of this draft (it needs work...)?
“Witan Group is an independent, privately-owned investment firm that provides investment management and corporate advisory around the world. In addition, clients are invited to co-invest with Witan in special projects and opportunities.”
The following day, Stern received Epstein’s approval to put the plans into action. A month later, in June 2011, Epstein received a message from an email account whose name has been redacted by the US Department of Justice.
It said: “I will not sign the PA official doc, only if you say so. Hope you can find a way so I can run your operations under your instructions – combining all Europe/China/US/emerging activities.”
Epstein began receiving emails from official Witan Group accounts from July 2011, although financial records show Witan Group Ltd was officially established on August 12, 2012. This was done by changing the name of Stern’s existing company, Asia Gateway Ltd.
Neither Mountbatten-Windsor nor Epstein appear on any financial documents relating to Witan Group Ltd, and Stern was listed as the director at the time of its launch.
It is unclear the extent to which the former prince was aware of the precise details of business plans that Stern and Epstein emailed about.
However, Stern appears to have been acting as a conduit between the pair after Mountbatten-Windsor faced public pressure to distance himself from Epstein, frequently passing on verbatim messages from the then-prince.
Mountbatten-Windsor claimed to have cut ties with Epstein in December 2010 after the paedophile was released from jail for soliciting a minor for prostitution. Epstein was found dead in his prison cell in August 2019 while awaiting trial on sex trafficking charges.
But Stern continued emailing Epstein about Witan Group’s business plans in the years before the financier’s death, and even suggested plans for the company to oversee a blockbuster float of Al Jazeera on the London or New York stock exchanges in 2017.
In October 2015, the former aide gave Epstein the heads up over his plans to buy Panmure Gordon, a British stockbroker, telling the paedophile: “Great platform with nice heritage for Asia and PA”.
Witan Group Ltd was dissolved in October 2019. By then, Mountbatten-Windsor was running Pitch@Palace, his Dragon’s Den-style entrepreneurial initiative. Pitch@Palace launched its Chinese branch in 2017.
The company came under scrutiny after it emerged that Mountbatten-Windsor had welcomed a suspected Chinese spy into the fold, and wound up operations in 2021.
Yang Tengbo, an alleged Chinese spy who was banned from the UK in 2024, had helped set up Pitch@Palace China with the former duke. He was revealed in December 2024 to be “H6”, an alleged agent for Beijing, after an anonymity order was lifted by a High Court judge.
Mountbatten-Windsor, who was effectively cast out from the royal family by the King last year, has faced mounting criticism after the latest tranche of Epstein files shed fresh light on the depth of his relationship with the paedophile.
On Monday, Thames Valley Police confirmed that they are assessing whether to launch an investigation after it emerged the former Duke of York passed on confidential information to Epstein from his official work as UK trade envoy.
A message on November 30, 2010, sent by Amit Patel, Mountbatten-Windsor’s then special assistant, contained reports of what had been discussed on visits to Hong Kong, Singapore, Vietnam and China.
The reports arrived in the former prince’s email inbox at 2.57pm and he forwarded them to Epstein five minutes later, at 3.02pm.
Emails also reveal Epstein was still advising Andrew Mountbatten-Windsor four years after the King’s brother claimed to have cut ties with the paedophile.
A Palace spokesman said: “The King has made clear, in words and through unprecedented actions, his profound concern at allegations which continue to come to light in respect of Mr Mountbatten-Windsor’s conduct.
“While the specific claims in question are for Mr Mountbatten-Windsor to address, if we are approached by Thames Valley Police we stand ready to support them as you would expect.
“As was previously stated, their Majesties’ thoughts and sympathies have been, and remain with, the victims of any and all forms of abuse.”
Both Mountbatten-Windsor and Stern were approached for comment.
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