Jul 9, 2017
Barclays at risk of fresh fraud charges over Qatar cash call
Barclays will hear within a fortnight whether it faces a second set of criminal fraud charges over its emergency 2008 cash call, when it turned to Qatari investors to stay out of UK government control. The UK's Serious Fraud Office is preparing to make a charging decision in respect of Barclays' subsidiary, Barclays Bank. The parent company has already been charged by the SFO with two counts of fraud by false representation and one count of unlawful financial assistance over agreements it struck with Qatar at the same time as the tiny Gulf state participated in two fundraisings in June and October of 2008, at the height of the financial crisis. Two other senior bankers at the time, Tom Kalaris and Richard Boath, face a single count of fraud by false representation over the June fundraising. Barclays disclosed last month that it was still awaiting a decision from the SFO over whether it would charge Barclays Bank "In respect of the loan".
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