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Serious Fraud Office set to announce whether Barclays faces Qatar charges

City A.M. Sunday, 18 June 2017
Serious Fraud Office set to announce whether Barclays faces Qatar chargesThe Serious Fraud Office (SFO) is set to reveal this week whether Barclays is to face criminal charges over a 2008 emergency fundraising from Qatar.

After a five-year investigation, the SFO is expected to announce its decision on Tuesday morning.

The probe has focused on whether commercial agreements between the bank and Qatari investors at the time of the fundraising were against UK law.

*Read more*: Barclays sells off more African assets offloading Barclays Bank of Zimbabwe

Qatar Holding invested in Barclays between June and October 2008, at the height of the financial crisis, when it was seeking extra cash.

The authorities have been investigating payments from the bank to Qatar around the same period.

The SFO has said it is “conducting a criminal investigation into certain commercial arrangements between Barclays Bank and Qatar Holding in 2008”.

The SFO and Barclays declined to comment.

*Read more*: Barclays up to third in the FTSE 100 broking rankings
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News video: Barclays Fraud Charges Could Affect Relationships With UN Departments

▶ Barclays Fraud Charges Could Affect Relationships With UN Departments 00:49

On Tuesday Britain's Serious Fraud Office charged Barclays Plc and four former executives over undisclosed payments to Qatari investors during an emergency fundraising in 2008 financial crisis. Chief Executive Jes Staley described its legal cases as being 'legacy issues' that the bank is seeking to...

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