Court Dismisses Fraud Charges Over $3 Billion Loan to Qatar
- London court dismissed all three charges over 2008 fundraising
- Bank says prosecutor likely to seek to reinstate the charges
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Barclays Plc said that a London court dismissed all the charges against the bank and its parent company over a 2008 capital raising with Qatar, in a big win for the lender that’s been dogged by legal issues for a decade.
The court dismissed two charges of “conspiring with certain former senior officers and employees of Barclays to commit fraud,” the bank said in a statement Monday. The court also tossed out two charges of unlawful financial assistance, one against the bank and another against its holding company, in relation to a $3 billion loan provided to Qatar in 2008.