Barclays fraud case over Qatar loan may be heard in October

Written by Oliver Wade
06/08/2018

The Serious Fraud Office’s (SFO) application to resurrect its case against Barclays over a £2.3bn loan to Qatar could be heard in October.

The case is in relation to the loan paid to the state of Qatar by Barclays as it carried out an £11.8bn fundraiser during the peak of the financial crisis. The charges are against both the Barclays Plc parent company and the Barclays Bank plc, which holds its UK operating license.

The SFO originally brought charges of unlawful financial assistance, regarding loans from Barclays that were allegedly used to prop up the value of shares in June 2017. The fundraising allowed the accused bank to circumvent nationalisation, which determined the fate of competitor banks Royal Bank of Scotland (RBS) and Lloyds.

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