Page 45 - Barclays Bank (B)

Qatari Loan

In June 2017 the Serious Fraud Office

charged Barclays Bank with fraud and

unlawful financial assistance, over its
dealings with Qatari investors, including

former prime minister Sheikh Hamad bin

Jassim bin Jabr al-Thani when Britain’s

banking system was on the verge of collapse and it received a

total of £11.8bn in June and October of 2008 in a bid to avoid a
government bail-out.

In addition, John Varley, former chief executive who stood down

in 2011; and three other ex-directors were charged with
conspiracy to commit fraud. Thus, becoming the first British

bankers to face criminal charges for actions taken during the

financial crisis when Barclays were by the Financial Conduct
Authority (FCA) and US regulators alleging making £322m in

secret payments, called “advisory services agreements” (ASAs),
aimed at securing Qatari investors’ support to avoid

nationalisation. Barclays said the ASAs were payments for advice.