Monday, 21 May 2018

Charges against Barclays over Qatar crisis funding dismissed

Three charges against Barclays over its emergency fundraising during the financial crisis have been dismissed.
The Serious Fraud Office (SFO) had accused the bank of two offences of conspiring to commit fraud by false representations regarding advisory services agreements with Qatar Holding in 2008.

It had faced a further charge of unlawful financial assistance in connection with a $3bn Qatar loan to the bank.

The bank said in a statement to the stock market, confirmed by the SFO, that all the charges had been thrown out at Southwark Crown Court.

Shares closed 0.7% higher.
The bank's statement added: "The SFO is likely to seek to re-instate these charges by applying to a High Court judge to re-commence proceedings via a new indictment of the same charges."

The SFO is yet to release a statement but is understood to be considering its next move.

SKY          News.

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