Google+ Followers

Wednesday, 15 March 2017

Barclays Qatar Targets Said to Make Last SFO Plea Before Charges - Bloomberg

Barclays Qatar Targets Said to Make Last SFO Plea Before Charges - Bloomberg:

"Former Barclays Plc executives sent final pleas to the U.K. Serious Fraud Office arguing they shouldn’t face prosecution related to a 2008 fundraising campaign involving Qatar, as the agency prepares to announce whether it will charge anyone in the probe, according to people with knowledge of the matter. In recent weeks, several suspects have contacted the SFO outlining why they shouldn’t be charged, said the people, who asked not to be identified because the letters are private. At least eight former senior officials have been treated as suspects. The SFO told a London court last year that it would decide on charges by the end of March, and the prosecutor is on track to make an announcement around then, three of the people said. The five-year-old investigation is into two "advisory services agreements" worth 322 million pounds ($391 million) that Barclays committed to pay the Qatar Investment Authority during the 2008 financial crisis. The pacts came around the same time the sovereign wealth fund joined a two-stage 12 billion-pound fundraising to help the bank avoid a state bailout, raising questions about the true purpose of the services agreements. "

'via Blog this'