The High Court has rejected an attempt by the Serious Fraud Office (SFO) to revive charges against Barclays regarding a bailout the bank secured from the state of Qatar during the financial crisis.
The charges, which were thrown out in May, related to allegations over the raising of emergency capital by Barclays plc and Barclays Bank plc at the height of the financial crisis in 2008. The SFO and Barclays were in court earlier this week where the SFO argued that the charges should be reinstated.
The dismissed charges were:
- Two offences against Barclays plc of conspiring with certain former senior officers and employees of Barclays to commit fraud by false representations relating to two advisory services agreements entered into with Qatar Holding LLC in June and October 2008; and;
- Against Barclays plc and Barclays Bank plc of unlawful financial assistance in relation to a $3bn loan provided to the state of Qatar in 2008.
Charges against four individuals connected with the case remain open.