Further SFO charges in Barclays Qatar capital raising case

12 Feb 2018 02:13 PM

The Serious Fraud Office yesterday charged Barclays Bank Plc with unlawful financial assistance contrary to s151(1) and (3) of the Companies Act 1985.

The charges relate to financial assistance Barclays Bank Plc gave to Qatar Holding LLC between 1 October and 30 November 2008, which was in the form of a US$3 billion loan for the purpose of directly or indirectly acquiring shares in Barclays Plc.

This follows charges brought against the holding company, Barclays Plc, and four individuals in June 2017.

A date for the first court appearance will be set in due course.

Notes to editors:

  1. The SFO announced the opening of its investigation in August 2012.
  2. The SFO charged Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance in June 2017 – see press release.   Reporting restrictions apply.
  3. The strict liability rule in the Contempt of Court Act 1981 applies.

Related Cases

Barclays PLC and Qatar Holding LLC