Barclays, executives, set to appear in court
Barclays, Ex-Officials Face Qatar Fundraising Fraud Charges
London - Arab Today
Barclays and four of its former executives — including its former CEO — are set to appear in court on charges of conspiracy to commit fraud connected with efforts to raise funds at the height of the 2008 financial crisis.
The charges are the first in Britain against a bank and former executives for activities during the crisis.
They follow a Serious Fraud Office investigation into two rounds of fundraising from Qatar in June and October of 2008. The probe centered on two side agreements under which Barclays paid the Qatari investors 322 million pounds ($406 million) over five years, the bank disclosed in 2013.
Ex-CEO John Varley, the other defendants and a bank representative are set to appear at Westminster Magistrates’ Court on Monday.
Source: Arab News
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