Former Barclays bankers lied about Qatari fees in 2008, fraud trial hears - Reuters

Former Barclays bankers lied about Qatari fees in 2008, fraud trial hears - Reuters:

Three former Barclays (BARC.L) executives lied to the market by hiding 322 million pounds ($395 million) in extra fees that the bank paid Qatar in return for vital funding during the global credit crisis, a prosecutor told a London court on Tuesday.

The case, one of the most high-profile brought by the UK Serious Fraud Office (SFO), revolves around undisclosed payments to Qatar as Barclays raised more than 11 billion pounds from investors in 2008 to avert a state bailout.

Opening the case for the prosecution, Edward Brown alleged that Roger Jenkins, Tom Kalaris and Richard Boath pretended commissions paid to Qatar in 2008 were fees for separate, commercially valuable advisory services agreements (ASAs).