Barclays executives cleared of fraud charges

From: RegTech Analyst

Three former Barclays executives accused of misconduct during the 2008 financial crises have been acquitted of funnelling £322m in secret fees to Qatar in return for rescue financing during the credit crisis.

The three bankers being cleared of all charges is seen as a blow to the Serious Fraud Office (SFO).

“Our prosecution decisions are always based on the evidence that is available, and we are determined to bring perpetrators of serious financial crime to justice,” a SFO spokesperson said I a statement. “Wherever our evidential and public interets tests are met, we will always endeavour to bring this before a court.”

The men had denied any wrongdoing. Qatar is a significant Barclays shareholder and was neither investigated nor accused of wrongdoing, Reuters reported.

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