Archive

Article length: 203 words

UK charges Barclays over Qatar dealings

The UK’s Serious Fraud Office (SFO) has charged Barclays plc and several former senior executives with conspiracy to commit fraud and the provision of unlawful financial assistance, for their actions around a multi-billion dollar rescue package from Gulf investors at the height of the financial crisis in 2008. The charges relate to $6bn of capital that Barclays raised in June and October 2008 from Qatar Holding and Challenger Universal (an investment vehicle of former prime minister Sheikh Hamad Bin Jassim Bin Jabr Al-Thani), as well as a $3bn loan given to Qatar’s Ministry of Economy and Finance in November 2008.

Go to full article

Credit value: 1

African Energy Gulf States Newsletter