Business
How Cisco Systems’ CIO is rethinking work in an AI-powered world for the company’s 10,000 IT employees
Published
3 months agoon
By
Jace Porter
Fletcher Previn says advancements in generative artificial intelligence are leading him to rethink workflows not just for Cisco Systems’ 10,000 IT workers, a department that operates on a $1.54 billion annual budget, but also the broader employee base of around 90,400.
He favors a collaborative approach that takes into consideration input from both the C-suite and workers.
“There’s the bottom up inertia of people asking for access to tools, and then there’s the top-down inertia of saying, ‘Here’s how we see this role evolving,’” says Previn, who has served as chief information officer at the networking-equipment company since 2021. “You sort of have both trying to meet in the middle.”
What that means for his work as CIO is finding ways to improve worker productivity, including giving developers more access to AI coding tools like Cursor, Windsurf, and GitHub Copilot. Cisco Systems is closely monitoring adoption of these tools, as well as the amount of code that’s accepted by developers. Around 70% of the company’s 20,000 developers log into AI coding tools at least once per month.
The acceptance rate for AI-generated code is around 24% and while that may not sound too impressive, Previn says it is a big leap from 4% nearly a year ago.
“AI is getting better,” he adds. “It’s supporting more programming languages. Developers are getting more comfortable with it.” Over time, he hopes that as much as 70% of Cisco Systems’ code will be AI generated.
There’s also the ongoing work that Previn is doing to rethink the IT function’s work and responsibilities. He is reevaluating the primary work done for each role, as well as job titles, the ways to reevaluate work with AI tools, and what future training may be required to support such big, sweeping changes.
Cisco Systems has also made some investments in AI applications that improve productivity to support the non-technical workforce. Some examples include using AI to do more intelligent onboarding, which allows for Cisco to more accurately assess exactly what tools or software are needed to support the role a new employee is hired for.
Cisco Systems is also using AI for planning hardware updates. Most companies refresh their laptops every two-to-four years. But by using AI to detect a laptop’s memory, application performance, and network telemetry, Cisco Systems can decipher the difference between performance problems that can be fixed by the IT team versus when a device may fail and will need to be replaced.
Upgrading laptops is a “significant amount of money at a company of our size,” says Previn. “And sometimes a lot of people are perfectly happy with the laptop they have.”
While Cisco Systems generates nearly $57 billion in annual revenue, large enough to rank 83rd on the Fortune 500, the company competes aggressively for tech talent, an arms race that has accelerated this year as the generative AI boom continues to expand.
To lure skilled workers, Previn says he prioritizes creating a workplace that encourages “emotional safety for people to be able to innovate and experiment and fail fast.”
Another key pillar of Previn’s strategy involves recognizing IT’s operation to do all work by a singular platform. There are separate teams organized cross functionally—one to support Workday, another for SAP, and yet another for Oracle—that are made up of around six-to-ten employees who have all the necessary skills to advance an internal tech project into production. This allows small teams to operate independently.
“There’s a huge productivity loss when you’re kind of dynamically forming and un-forming teams by project,” asserts Previn.
Previn says Cisco Systems fields a lot of pitches from the software-as-a-service providers it works with to add on more expensive AI capabilities. He progresses cautiously on that front. “You can consume all of those things, but run the risk of controlled cost,” says Previn. “It can create employee experience confusion, similar to what we had when chatbots started to become a thing.”
He expects that generative AI will increasingly evolve to become an agent-to-agent world, a digital workforce that can perform tasks on behalf of workers, sometimes autonomously and in coordination with each other. That involves an inverted approach to how employees engage with technology. Rather than an employee asking an AI search tool, “Where’s the link to Workday?” they could instead say, “I’m taking a vacation on Friday.” Agentic AI could then do the rest: block off calendars, cancel meetings, and put up an out-of-office message.
Cisco Systems has developed the company’s own internal digital AI teammate called “CIRCUIT,” an AI assistant that helps the company’s employees find and understand general information more quickly. Rather than an employee being asked to toggle between different language models or select if the data they want to access is publicly available or is internal information, “CIRCUIT” infers intent and determines the appropriate selections.
Previn says this approach is an evolution of his thinking that Cisco Systems can’t assume that workers are up to date on which AI models are most advanced and best match the tasks they are trying to complete.
“The rate of innovation in AI is happening so quickly that if you find out your developers are using a language model that is six months old, then effectively, all the software you’re writing is already six months out of date,” says Previn.
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NEWS PACKETS
Meta freezes hiring for its AI division. After luring more than 50 AI researchers and engineers, the social media giant behind Facebook and Instagram has put into place a hiring freeze for AI talent, according to a report last week from The Wall Street Journal, a move that a company spokesperson confirmed was due to organizational planning to create “a solid structure for our new superintelligence efforts after bringing people on board and undertaking yearly budgeting and planning exercises.” An AI arms race has accelerated in 2025 for both technology and non-technology roles, with Meta among the Big Tech giants that have been seen as especially aggressive on that front, offering researchers pay packages worth nine figures. Last week, Meta also announced internally it would split its AI division into four groups, focused on research, “superintelligence” AI, products, and infrastructure like hardware and data centers.
U.S. buys 10% stake in struggling chipmaker Intel. Intel has agreed to sell the U.S. government a 10% stake, worth roughly $10 billion, though the federal government will not be involved in company governance nor claim a board seat. The news comes after Commerce Secretary Howard Lutnick had outlined plans for the government to receive equity in return for the CHIPS Act cash grants that Intel has received, which President Donald Trump has lamented as handing out money to chip makers like Intel without getting anything in return. “We should get an equity stake for our money, so we’ll deliver the money which was already committed under the Biden administration,” Lutnick told CNBC last week.
Anthropic nears deal to raise $10 billion in new round of funding. Anthropic, which was last valued at $61.5 billion in a $3.5 billion round led by Lightspeed Venture Partners in March, is reportedly seeing strong investor demand in what would be one of the largest rounds of funding to date for an AI startup. Bloomberg says that investment firm Iconiq Capital is reportedly leading the round and that other expected participants include TPG, Lightspeed, Spark Capital, and Menlo Ventures. Less than three years after the debut of ChatGPT, AI is producing billion-dollar startups like Anthropic faster than the dot-com era, with 498 AI unicorns valued at $1 billion or more with a combined value of $2.7 trillion, according to CB Insights.
General Motors builds AI team with Big Tech alums. WSJ reports on an AI hiring spree spearheaded by GM, the auto giant that has lured nearly a dozen technologists from top tech companies including Meta and Amazon Web Services over the last eight months. Two of the more notable hires thus far, WSJ says, are Barak Turovsky, who now serves as GM’s first-ever chief AI officer, and John Anderson, now executive director of AI research. Both came from Google. The team’s work will support GM’s planned AI center of excellence that will mostly be based in California. GM’s AI team is fairly scrappy, with less than 20 workers, and some applications of AI that they are focusing on include improving back-office workflows and boosting products like manufacturing robots and the future fleet of autonomous vehicles.
ADOPTION CURVE
Generative AI giving an innovation lift to other tech advancements. McKinsey has identified 13 technology trends that the consulting giant says has the potential to transform business and reported that equity investments have increased in 10 of these breakthroughs, with big double-digit gains for AI, cloud and edge computing, and digital trust and cybersecurity. Agentic AI, an application of generative AI that can perform more complex tasks and at times act autonomously, experienced a particular meteoric rise, with $1.1 billion in equity investments last year and a 985% increase in job postings from 2023.
Lareina Yee, a co-author of the report and McKinsey’s global institute director and senior partner, tells Fortune that generative AI is raising the bar for what’s possible across other technology trends. “Robotics has been around for 40 to 50 years and we’ve been implementing them in manufacturing, but now powered by cognitive intelligence, that’s a game changer,” says Yee.
CIOs and other technologists aren’t expected to keep a close eye on every advancement, Yee says, as some are more niche applications like bioengineering or space technologies. But the rapid advancements of generative AI highlight that other technologies, like quantum computing, could soon make the leap from science to reality. “It’s all science until it’s not,” says Yee.
Courtesy of McKinsey & Company
JOBS RADAR
Hiring:
– Synergy Pet Group is seeking a CTO, based in Lakewood, New Jersey. Posted salary range: $200K-$250K/year.
– Chartmetric is seeking a CTO, based in San Mateo, California. Posted salary range: $200K-$300K/year.
– Headway is seeking a director of IT, based in New York City. Posted salary range: $218.4K-$257K/year.
– Whatnot is seeking a director of IT, based in Los Angeles. Posted salary range: $230K-$270K/year.
Hired:
– American International Group (No. 157 on the Fortune 500) appointed Scott Hallworth as chief digital officer, effective September 1, where he will oversee AIG’s digital, data, and generative AI strategy. Hallworth joins the insurance giant after most recently serving as chief data and analytics officer at computer maker Hewlett Packard. He also previously held technology leadership roles at Fannie Mae and Capital One.
Every Friday morning, the weekly Fortune 500 Power Moves column tracks Fortune 500 companies C-suite shifts—see the most recent edition.
– UKG announced the appointment of Jim Joudrey as CTO, joining the workforce management and human resources software provider to oversee the 4,000 global engineering and cloud teams. Joudrey will serve on the UKG executive leadership team and report to CEO Jennifer Morgan. He most recently served as a VP at Amazon and spent a decade at the tech giant, including leadership roles spanning financial systems, supply chain, and in Amazon Web Services infrastructure.
– The Postal Service has elevated Gary Reblin to the role of CTO, after he previously held the position on an acting basis since June. Reblin succeeds Scott Bombaugh, who retired after a 38-year career at the government agency. Reblin initially joined USPS in 1991, previously serving as applied engineering VP and holding executive roles in several areas, including shipping services and product innovation.
– Realtor.com announced the appointment of Janakiraman Karthikeyan as CTO, joining the real estate listings website after most recently serving as VP of technology at online pet food retailer Chewy.
– Jackson Walker named Bill Finner at CIO, expanding his oversight of the Texas-based law firm’s information systems and technology infrastructure. Finner joined Jackson Walker in 2009 and most recently served as director of networking and technical infrastructure.
– Voyager Technologies appointed Paul Tilghman as CTO, joining the space and defense technology company after most recently serving as a chief engineer at defense tech provider Anduril Industries. Earlier in this career, he worked for Microsoft’s Azure space connectivity organization and also held leadership roles at Lockheed Martin’s advanced technology laboratories.
– Aruze Gaming Global announced the appointment of Srini Adiraju as CTO, joining the slot machines manufacturer after most recently serving as VP of engineering at automotive electronics supplier Visteon. He also spent 14 years at WMS Gaming and Scientific Games, where he designed and launched features for slot machines.
– SubjectWell appointed Steve Ciske as CTO, where he will oversee the company’s AI strategy and also ensure security and compliance practices. Ciske joins the clinical trials patient recruitment provider after most recently serving as VP of global technology services for cruise operator Carnival, CTO at women’s handbag and accessories purveyor Thirty-One Gifts, and CTO at eyewear provider EssilorLuxottica.
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Business
The $124 trillion Great Wealth Transfer is intensifying as inheritance jumps to a new record
Published
39 minutes agoon
December 6, 2025By
Jace Porter
Nearly $300 billion was inherited this year as the Great Wealth Transfer picks up speed, showering family members with immense windfalls.
According to the latest UBS Billionaire Ambitions Report, 91 heirs inherited a record-high $297.8 billion in 2025, up 36% from a year ago despite fewer inheritors.
“These heirs are proof of a multi-year wealth transfer that’s intensifying,” Benjamin Cavalli, head of Strategic Clients & Global Connectivity at UBS Global Wealth Management, said in the report.
Western Europe led the way with 48 individuals inheriting $149.5 billion. That includes 15 members of two “German pharmaceutical families,” with the youngest just 19 years old and the oldest at 94.
Meanwhile, 18 heirs in North America got $86.5 billion, and 11 in South East Asia received $24.7 billion, UBS said.
This year’s wealth transfer lifted the number of multi-generational billionaires to 860, who have total assets of $4.7 trillion, up from 805 with $4.2 trillion in 2024.
Wealth management firm Cerulli Associates estimated last year that $124 trillion worldwide will be handed over through 2048, dubbing it the Great Wealth Transfer. More than half of that amount will come from high-net-worth and ultra-high-net-worth people.
Among billionaires, UBS expects they will likely transfer about $6.9 trillion by 2040, with at least $5.9 trillion of that being passed to children, either directly or indirectly.
While the Great Wealth Transfer appears to be accelerating, it may not turn into a sudden flood. Tim Gerend, CEO of financial planning giant Northwestern Mutual, told Fortune’s Amanda Gerut recently that it will unfold more gradually and with greater complexity.
“I think the wealth transfer isn’t going to be just a big bang,” he said. “It’s not like, we just passed peak age 65 and now all the money is going to move.”
Of course, millennials and Gen Zers with rich relatives aren’t the only ones who sat to reap billions. More entrepreneurs also joined the ranks of the super rich.
In 2025, 196 self-made billionaires were newly minted with total wealth of $386.5 billion. That trails only the record year of 2021 and is up from last year, which saw 161 self-made individuals with assets of $305.6 billion.
But despite the hype over the AI boom and startups with astronomical valuations, some of the new U.S. billionaires come from a range of industries.
UBS highlighted Ben Lamm, cofounder of genetics and bioscience company Colossal; Michael Dorrell, cofounder and CEO of infrastructure investment firm Stonepeak; as well as Bob Pender and Mike Sabel, cofounders of LNG exporter Venture Global.
“A fresh generation of billionaires is steadily emerging,” UBS said. “In a highly uncertain time for geopolitics and economics, entrepreneurs are innovating at scale across a range of sectors and markets.”
Business
Apple rocked by executive departures, with chip chief at risk of leaving next
Published
1 hour agoon
December 6, 2025By
Jace Porter
Apple Inc., long the model of stability in Silicon Valley, is suddenly undergoing its biggest personnel shake-up in decades, with senior executives and key engineers both hitting the exits.
In just the past week, Apple’s heads of artificial intelligence and interface design stepped down. Then the company announced that its general counsel and head of governmental affairs were leaving as well. All four executives have reported directly to Chief Executive Officer Tim Cook, marking an exceptional level of turnover in Apple’s C-suite.
And more changes are likely coming. Johny Srouji — senior vice president of hardware technologies and one of Apple’s most respected executives — recently told Cook that he is seriously considering leaving in the near future, according to people with knowledge of the matter. Srouji, the architect of Apple’s prized in-house chips effort, has informed colleagues that he intends to join another company if he ultimately departs.
At the same time, AI talent has been fleeing for tech rivals — with Meta Platforms Inc., OpenAI and a variety of startups poaching many of Apple’s engineers. That threatens to hamper the company’s efforts to catch up in artificial intelligence, an area where it’s struggled to make a mark.
It all adds up to one of the most tumultuous stretches of Cook’s tenure. Though the CEO himself is unlikely to leave imminently, the company has to rebuild its ranks and figure out how to thrive in the AI era.
Within the company, some of the departures are cause for deep concern — with Cook looking to stave off more with stronger compensation packages for key talent. In other cases, the exits just reflect the fact that veteran executives are nearing retirement age. Still, many of the shifts constitute a disconcerting brain drain.
While Cook maintains that Apple is working on the most innovative product lineup in its history — a slate that’s expected to include foldable iPhones and iPads, smart glasses, and robots — Apple hasn’t launched a successful new product category in a decade. That leaves it vulnerable to poaching from a range of nimbler rivals better equipped to develop the next generation of devices around AI.
A spokesperson for Cupertino, California-based Apple declined to comment.
The exit of Apple’s AI chief, John Giannandrea, followed a number of stumbles in generative AI. The company’s Apple Intelligence platform has suffered from delays and subpar features. And a highly touted overhaul to the Siri voice assistant is roughly a year and a half behind schedule. Moreover, the software will rely heavily on a partnership with Alphabet Inc.’s Google to fill the gaps in its capabilities.
Against that backdrop, Apple began phasing Giannandrea out of his role in March but is allowing him to remain until next spring.
Within Apple, employees have long expected Giannandrea to step aside — and some have expressed surprise that he’s sticking around as long as he is.
But parting ways with Giannandrea sooner would have been taken as public acknowledgment of a problem, people familiar with the situation said.
Design veteran Alan Dye, meanwhile, is heading to Meta’s Reality Labs unit — a remarkable defection to one of Apple’s fiercest rivals.
Within a day of that news, Apple turned around and announced that it had poached one of Meta’s executives. Jennifer Newstead, chief legal officer at the social networking company, will become Apple’s general counsel. She helped oversee Meta’s successful antitrust battle with the US Federal Trade Commission — experience that’s likely to prove useful in Apple’s own legal fight with the Justice Department over alleged anticompetitive practices.
Read More: Apple Taps Meta Lawyer as General Counsel in Latest Shake-Up
Newstead is taking over for Kate Adams, who served eight years in the role and will retire in late 2026. Lisa Jackson, vice president for environment, policy and social initiatives, is retiring as well — and her duties will be divided up among other executives.
Though the news of Adams’ departure was jarring — especially considering the number of Apple legal disputes currently on her plate — she’s had a fairly long tenure for a general counsel at the company.
Jackson, meanwhile, was widely expected to be leaving soon. The former Obama administration official has kept a lower profile during President Donald Trump’s second term, opting to dispatch deputies to handle discussions with the White House. Bloomberg News had previously reportedthat she was considering retirement.
These exits follow an even bigger departure. Jeff Williams, Cook’s longtime No. 2, retired last month after a decade as chief operating officer. Another veteran leader, Chief Financial Officer Luca Maestri, stepped into a smaller role at the start of 2025 and is likely to retire in the not-too-distant future.
The flurry of retirements reflects a demographic reality for Apple. Many of its most senior executives have been at the company for decades and are roughly the same age — either in their 60s or nearing it.
Cook turned 65 last month, fueling speculation that he would join the exodus. People close to the executive have said that he’s unlikely to leave soon, though succession planning has been underway for years. John Ternus, Apple’s 50-year-old hardware engineering chief, is considered by employees to be the frontrunner CEO candidate.
When Cook does step down, he’s likely to shift into the chairman job and maintain a high level of influence over the iPhone maker. That makes it unlikely that Apple will select an outsider as the next CEO, even as executives like Nest Labs founder Tony Fadell are being pushed as candidates by people outside the company. Though Fadell helped invent Apple’s iconic iPod, he left the tech giant 15 years ago on less-than-friendly terms.
For now, Cook remains active at Apple and travels extensively on behalf of the company. However, the executive does have an unexplained tremor that causes his hands to shake from time to time — something that’s been discussed among Apple employees in recent months.
The shaking has been noticed by both executives and rank-and-file staff during meetings and large company gatherings, according to people familiar with the matter. But people close to Cook say he is healthy and refute rumors to the contrary that have circulated in Silicon Valley.
Read More: The Apple Insiders in the Running to Succeed Cook
A more imminent risk is the departure of Srouji, the chip chief. Cook has been working aggressively to retain him — an effort that included offering a substantial pay package and the potential of more responsibility down the road. One scenario floated internally by some executives involves elevating him into the role of chief technology officer. Such a job — overseeing a wide swath of both hardware engineering and silicon technologies — would potentially make him Apple’s second-most-powerful executive.
But that change would likely require Ternus to be promoted to CEO, a step the company may not be ready to take. And some within Apple have said that Srouji would prefer not to work under a different CEO, even with an expanded title.
If Srouji does depart, which isn’t yet a certainty, the company would likely tap one of his two top lieutenants — Zongjian Chen or Sribalan Santhanam — to replace him.
The recent shifts are already reshaping Apple’s power structure. More authority is now flowing to a quartet of executives: Ternus, services chief Eddy Cue, software head Craig Federighi and new COO Sabih Khan. Apple’s AI efforts have been redistributed across its leadership, with Federighi becoming the company’s de facto AI chief.
Ternus is also poised to take a starring role next year in the celebration of Apple’s 50th anniversary, further raising his profile. And he’s been given more responsibility over robotics and smart glasses — two areas seen as future growth drivers.
Further reorganization is likely. Deirdre O’Brien, head of retail and human resources, has been with Apple for more than 35 years, while marketing chief Greg Joswiak has spent four decades at the company. Apple has elevated the key lieutenants under both executives, preparing for their eventual retirements.
At the same time, Apple is contending with a talent drain in its engineering ranks. This has become a serious concern for the executive team, and Apple’s human resources organization has been instructed to ramp up recruitment and retention efforts, people familiar with the situation said.
Robby Walker, who had overseen Siri and an initiative to build a ChatGPT-like search experience, left the company in October. His replacement, Ke Yang, departed after only weeks in the job, joining Meta’s new Superintelligence Labs.
To help fill the void left by Giannandrea, Apple hired Google and Microsoft Corp. alum Amar Subramanya as vice president of artificial intelligence. He’ll report to Federighi, the software chief.
But there’s been a broader collapse within Apple’s artificial intelligence organization, spurred by the departure of AI models chief Ruoming Pang. Pang, along with colleagues such as Tom Gunter and Frank Chu, went to Meta, which has used eye-popping compensation packages to lure talent.
Roughly a dozen other top AI researchers have left the organization, which is suffering from low morale. The company’s increasing use of external AI technology, such as Google’s Gemini, has been a particular concern for employees working on large language models.
Apple’s AI robotics software team has also seen widespread departures, including its leader Jian Zhang, who likewise joined Meta. That group is tasked with creating underlying technology for products such as a tabletop robot and a mobile bot.
The hardware team for the tabletop device, code-named J595, has been bleeding talent too — with some headed to OpenAI. Dye also was a key figure overseeing that product’s software design.
Read More: Apple’s AI Push to Hinge on Robots, Security, Lifelike Siri
The user interface organization has been hit as well, with several team members leaving between 2023 and this year. That attrition culminated in Dye’s exit, which stemmed partly from a desire to integrate AI more deeply into products and a feeling that Apple hasn’t been keeping pace in the area. Another top interface leader under Dye, Billy Sorrentino, also left for Meta.
The hardware side of the design group — the team responsible for the physical look and feel of Apple’s products — has been nearly wiped out over the last half-decade. Many staffers followed former design chief Jony Ive to his studio, LoveFrom, or went to other companies.
Longtime interface designer Stephen Lemay is now stepping in as Dye’s replacement. Cook is also taking on more responsibility for overseeing design, a role that had been held by Williams.
Ive, a visionary designer who helped create the iPhone, iPad and Apple Watch, is now working with OpenAI to develop a new generation of AI-enhanced devices. That company acquired Ive’s startup, io, for more than $6 billion to jump-start its hardware business — setting its sights on Apple’s territory.
Like Meta, OpenAI has become a key beneficiary of Apple’s talent flight. The San Francisco-based company has hired dozens of Apple engineers across a wide range of fields, including people working on the iPhone, Mac, camera technology, silicon design, audio, watches and the Vision Pro headset.
In a previously unreported development, the AI company is hiring Apple’s Cheng Chen, a senior director in charge of display technologies. His purview included the optics that go into the Vision Pro headset. OpenAI recruited Tang Tan, one of Apple’s top hardware engineering executives, two years ago.
Read More: Apple’s Star Designer Who Introduced iPhone Air Leaves Company
And over the summer, the company lost the dean of Apple University, the internal program designed to preserve the company’s culture and practices after the passing of co-founder Steve Jobs. Richard Locke, who spent nearly three years at Apple, left to become dean of the Massachusetts Institute of Technology’s business school.
Business
Epstein grand jury documents from Florida can be released by DOJ, judge rules
Published
2 hours agoon
December 6, 2025By
Jace Porter
A federal judge on Friday gave the Justice Department permission to release transcripts of a grand jury investigation into Jeffrey Epstein’s abuse of underage girls in Florida — a case that ultimately ended without any federal charges being filed against the millionaire sex offender.
U.S. District Judge Rodney Smith said a recently passed federal law ordering the release of records related to Epstein overrode the usual rules about grand jury secrecy.
The law signed in November by President Donald Trump compels the Justice Department, FBI and federal prosecutors to release later this month the vast troves of material they have amassed during investigations into Epstein that date back at least two decades.
Friday’s court ruling dealt with the earliest known federal inquiry.
In 2005, police in Palm Beach, Florida, where Epstein had a mansion, began interviewing teenage girls who told of being hired to give the financier sexualized massages. The FBI later joined the investigation.
Federal prosecutors in Florida prepared an indictment in 2007, but Epstein’s lawyers attacked the credibility of his accusers publicly while secretly negotiating a plea bargain that would let him avoid serious jail time.
In 2008, Epstein pleaded guilty to relatively minor state charges of soliciting prostitution from someone under age 18. He served most of his 18-month sentence in a work release program that let him spend his days in his office.
The U.S. attorney in Miami at the time, Alex Acosta, agreed not to prosecute Epstein on federal charges — a decision that outraged Epstein’s accusers. After the Miami Herald reexamined the unusual plea bargain in a series of stories in 2018, public outrage over Epstein’s light sentence led to Acosta’s resignation as Trump’s labor secretary.
A Justice Department report in 2020 found that Acosta exercised “poor judgment” in handling the investigation, but it also said he did not engage in professional misconduct.
A different federal prosecutor, in New York, brought a sex trafficking indictment against Epstein in 2019, mirroring some of the same allegations involving underage girls that had been the subject of the aborted investigation. Epstein killed himself while awaiting trial. His longtime confidant and ex-girlfriend, Ghislaine Maxwell, was then tried on similar charges, convicted and sentenced in 2022 to 20 years in prison.
Transcripts of the grand jury proceedings from the aborted federal case in Florida could shed more light on federal prosecutors’ decision not to go forward with it. Records related to state grand jury proceedings have already been made public.
When the documents will be released is unknown. The Justice Department asked the court to unseal them so they could be released with other records required to be disclosed under the Epstein Files Transparency Act. The Justice Department hasn’t set a timetable for when it plans to start releasing information, but the law set a deadline of Dec. 19.
The law also allows the Justice Department to withhold files that it says could jeopardize an active federal investigation. Files can also be withheld if they’re found to be classified or if they pertain to national defense or foreign policy.
One of the federal prosecutors on the Florida case did not answer a phone call Friday and the other declined to answer questions.
A judge had previously declined to release the grand jury records, citing the usual rules about grand jury secrecy, but Smith said the new federal law allowed public disclosure.
The Justice Department has separate requests pending for the release of grand jury records related to the sex trafficking cases against Epstein and Maxwell in New York. The judges in those matters have said they plan to rule expeditiously.
___
Sisak reported from New York.
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