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SFO charges Barclays in Qatar capital-raising case

Jaclyn Jaeger | June 20, 2017

The Serious Fraud Office charged Barclays and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the Companies Act.

The charges relate to Barclays’ capital raising arrangements with Qatar Holding and Challenger Universal, which took place in June 2008 and October 2008, and a US$3 billion loan facility made available to the State of Qatar acting through the Ministry of Economy and Finance in November 2008. The SFO opened its investigation in 2012.

The SFO has brought the following charges:

  • Conspiracy to commit fraud by false representation in relation to the June 2008 capital raising, contrary to s1 and s2 of the Fraud Act and s1(1) of the Criminal Law Act;
  • Conspiracy to commit fraud by false representation in relation to the October 2008 capital raising, contrary to s1 and s2 of the Fraud Act and s1(1) of the Criminal Law Act;
  • Unlawful financial assistance contrary to s151 of... To get the full story, subscribe now.