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Saturday, 17 June 2017

Barclays awaits news on criminal charges over fundraising

Barclays awaits news on criminal charges over fundraising:

"Barclays is considering pleading guilty to criminal charges over its arrangements with Qatar during the financial crisis, but will reserve its final decision until prosecutors make clear what precisely they will level against the bank. The bank and the Serious Fraud Office are locked in frantic last-minute discussions that have seen deadlines slip this week. The SFO previously pledged to make a charging decision by mid-June in a culmination of its five-year investigation into the bank’s £7.3bn fundraising in 2008, when Barclays tapped investors from Qatar and Abu Dhabi to stave off UK government control. Barclays now expects a decision on charges on Tuesday, senior bank sources told the Financial Times. Bloomberg previously reported that the bank was in discussions with the SFO over a guilty plea."



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