Lord Peter Mandelson exited Global Counsel with more than £1.5mn from share sales before the advisory firm collapsed over his ties to Jeffrey Epstein. The former business secretary received £250,000 for his remaining stake days before the firm went into administration, while colleagues' shares became worthless.

Global Counsel entered administration February 19 after clients including Barclays, Vodafone, and Tesco withdrew amid fresh revelations about Mandelson's relationship with Epstein. Mandelson had sought Epstein's advice when setting up the firm in 2010, which was valued at £30mn as recently as 2024.

Mandelson was arrested in late February on suspicion of misconduct in public office but released under investigation. He denies criminal wrongdoing, claiming no personal gain. Former staff face unemployment while Mandelson profits from the business he helped destroy.