Friday, 26 October 2018

Barclays will not face court trial over crisis fundraising


Barclays has been spared a court trial over its emergency fundraising during the global financial crisis.

The High Court has dismissed a claim by the Serious Fraud Office (SFO) to reinstate charges against the bank.

It upheld a Crown Court ruling in May which dismissed all charges against Barclays Bank and its owner Barclays PLC over billions of pounds raised from Qatar in 2008.

If Barclays was found guilty at trial, it could have lost its banking licence.

The SFO had sought to prosecute the company for two offences of conspiring to commit fraud by false representations regarding advisory services agreements with Qatar Holding during the global financial crisis.
Despite the bank now being clear of all charges, the SFO said "it was right to bring this to the attention of the High Court".

Barclays said in a statement to the London Stock Exchange: "Barclays announces that the High Court has today denied the SFO's application to reinstate in respect of all of the charges. As a result, all of the charges remain dismissed."

Four former Barclays bankers still face charges over the Qatari investment.

BBC        News.

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