- FirstBank and Azuri to deepen financial inclusion in Nigeria
- Research finds banks’ leveraged loan pipeline could pose a threat to financial stability
- CrowdBureau launches P2P lending and equity crowdfunding index
- UK Finance responds to Which? call for a new 'cash' regulator
- Treasury Committee publishes correspondence from FOS about economic crime
- An IFISA is as the perfect middle ground for saving, according to Zopa
- Banks to invest heavily in updating legacy systems to combat challenger banks expired
- MetaBank® launches faster payments platform with Mastercard Send expired
- Leeds adds no-fee, fixed-rate mortgage to retirement interest-only market expired
- ABN AMRO results impacted by cost of anti-money laundering safeguards expired
- Crédit Agricole’s net income sees sharp rise in 2018 expired
- Credit Suisse Group reports first annual post-tax profit since 2014 expired
13th February 2018
Barclays faces second charge in Qatar capital raising case
The Serious Fraud Office has 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 1st October and 30th November, 2008, which was in the form of a US$3bn 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.
The SFO announced the opening of its investigation in August 2012, when it charged Barclays plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance in June 2017.The strict liability rule in the Contempt of Court Act 1981 applies.