Markets

SFO charges Barclays over 2008 Qatar fundraising

SFO charges Barclays over 2008 Qatar fundraising

Varley and Jenkins have also been charged with conspiracy to commit fraud by false representation in relation to the October 2008 capital raising and face a charge of unlawful financial assistance, the UK SFO said.

The Serious Fraud Office has charged Barclays, its former chief executive and three other former top executives with conspiracy to commit fraud and the provision of unlawful financial assistance.

Barclays says it is considering its position and awaiting further details.

Barclays and four former senior executives have been criminally charged in a high-profile United Kingdom investigation into undisclosed payments to Qatari investors during a NZD$21 billion emergency fund raising in 2008.

It added that the City watchdog, the Financial Conduct Authority (FCA), had reopened its investigation while United States authorities were continuing their own inquiries.




The four men are the most senior United Kingdom banking executives charged since the financial crisis, which forced many lenders to seek government bailouts and sparked a global recession.

Mr Varley, 61, was appointed Barclays's CEO in 2004 after starting his career at the bank in the 1980s. They are to appear in Westminster Magistrates' Court July 3. Therefore, I think the investment case for the bank on a long-term timeframe remains relatively positive.

The FCA slapped a £50 million penalty on the bank in 2013 after finding that Barclays had failed to disclose arrangements and fees it paid to the Qatari investors.

The United States Department of Justice and the US Securities and Exchange Commission have also been carrying out investigations over the payments.

Barclays also reaffirmed it was defending a civil claim against it, brought by PCP Capital Partners and PCP International Finance, in relation to the second capital raising.


  • Gingrich says Comey may be under investigation

    Gingrich says Comey may be under investigation

    On college campuses, for example, students who support Trump say they have received threats - even death threats, Gingrich said . But running for president and being the chief executive are two different things.
    Balochistan: Two Pakistan Navy personnel killed

    Balochistan: Two Pakistan Navy personnel killed

    Two Naval officers died and at least three others were wounded in an ambush in Jiwani area of Gwadar district on Monday. There has been no immediate claim of responsibility for the fatal gun assault.

    Dems say they'll slow Senate work over secretive care bill

    This could slow Senate operations by forcing the Republican majority to hold additional procedural votes in order to move ahead. Unfortunately the debate over the "repeal and replacement" of Obamacare is being confused with a debate over health care.
  • Leaving climate accord puts United States behind -- Ned Grossnickle

    So, it's been clear for some time that the US federal government is not going to act on climate change in the foreseeable future. President Donald Trump announced the United States withdrawal from the Paris Climate Accord against the will of most Americans.
    Doctors 'encouraged' by Scalise's improvement

    Doctors 'encouraged' by Scalise's improvement

    Doctors say the bullet entered his left hip damaging some of his organs, and causing internal bleeding. A lobbyist, a congressional aide, and two Capitol Police officers were also injured in the shooting.
    Mubarakan poster: Anil Kapoor with Arjun, Ileana D'Cruz and Athiya Shetty

    Mubarakan poster: Anil Kapoor with Arjun, Ileana D'Cruz and Athiya Shetty

    As the trailer releases on June 20, we have learned an interesting thing about Ileana's work in the film. They have previously worked together in films like Welcome, Welcome Back , No Entry and No Problem .
  • Trump seeks to privatize US air traffic control system

    Trump seeks to privatize US air traffic control system

    Democrats in Congress also largely oppose the idea , as they believe that it will shift too much power over to the major airlines. Those pledges have been eclipsed by the political furor over Russia's alleged meddling in the 2016 US election.

    Moment of silence for London fire victims

    The National Health Service said that 17 patients were still being treated in hospital, of whom nine remain in critical condition. The Prime Minister insisted the Government was doing everything possible to help those caught up in the tragedy.
    Delay in reporting of deadly US destroyer collision raises questions

    Delay in reporting of deadly US destroyer collision raises questions

    After interviewing Filipino crew members, the Coast Guard changed the collision time to 1:30 a.m. The Navy saying the bodies of the 7 American sailors killed in the crash have been recovered.
  • Midnight Parlt Central Hall event to mark GST rollout

    Midnight Parlt Central Hall event to mark GST rollout

    The official switch-over to the GST will happen at midnight of June 30, 2017, Finance Minister Arun Jaitley said on Wednesday. Jaitley said that most states had accepted the amendments made to the act and had already paved way for its implementation.
    After US shoots down Syrian jet, Russian Federation  threatens unsafe  escalation

    After US shoots down Syrian jet, Russian Federation threatens unsafe escalation

    The Syrian jet was shot down on Sunday evening after regime forces engaged fighters from the Syrian Democratic Forces (SDF). Earlier, Syrian forces attacked coalition fighters in Ja'Din, wounding a number of fighters and driving them from the town.
    Rishi Kapoor gets some serious roasting after India's thrashing in CT final

    Rishi Kapoor gets some serious roasting after India's thrashing in CT final

    The Indian cricket team will head into Sunday's final against Pakistan as the defending champions , having won the title in 2013. Arthur, like others, also want that cricket loving fans in Pakistan, get to see their heroes play worldwide matches.