A sham #Qatar deal could have cost ex Barclays exec $64 million, court hears - Reuters

A sham Qatar deal could have cost ex Barclays exec $64 million, court hears - Reuters:

A former top Barclays (BARC.L) executive, on trial in London on fraud charges, would have risked a 50 million pound ($64 million) “good leaver” package if he had sought a criminal deal with Qatar during the credit crisis, a court heard on Thursday.

It would have been “lunacy” for Roger Jenkins, one of three men charged with fraud over undisclosed payments to Qatar during emergency fundraisings in 2008, to risk such accrued benefits and a job that had paid him 38 million pounds in 2007 alone, his lawyer told a jury at the Old Bailey criminal court.

The high-profile Serious Fraud Office (SFO) case revolves around how Barclays — one of the few major British banks to survive the credit crisis without direct government aid — raised more than 11 billion pounds ($14 billion) from Qatar and other investors to avert a state bailout as markets roiled.