Barclays is said to be being investigated over allegations that it lent Qatar money to invest in itself during the financial crisis, so avoiding a government bail-out.
The Daily Telegraph reports that the bank’s fundraising efforts in 2008 are already being examined by watchdog the Financial Services Authority (FSA) and the Serious Fraud Office.
However, while it was known that Barclays was under scrutiny, the alleged loan to the Qataris represents a new element of the investigation, according to reports. How much was allegedly loaned, and to what bodies, is unclear.
The controversial capital raising push in 2008, when the crisis was at its worst, had seen Barclays raise billions of pounds from investors in Qatar and Abu Dhabi, meaning that it avoided taking emergency funds from the Government.
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Barclays investigated over claims it lent Qatar money to invest in itself
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