The EU's anti-fraud office has initiated a formal investigation into Lord Peter Mandelson due to his connections with Jeffrey Epstein. The investigation, requested by the European Commission, focuses on allegations of misconduct during Mandelson's tenure as European trade commissioner from 2004 to 2008. Olaf confirmed it has enough information to proceed but has not yet determined if fraud is involved. Mandelson has denied any wrongdoing, and the investigation will examine communications with Epstein, including potential advance notice of a significant EU bailout. The scandal continues to impact UK politics.