Barclays probe to be continued

Barclays will learn whether fraud prosecutors intend to file charges related to its $10.2bn fundraising from Middle Eastern investors by early next year, lawyers for the Serious Fraud Office told a London court.

Bloomberg News reports that the bank is being investigated by the SFO over a capital injection from private investors in Abu Dhabi and Qatar at the height of the 2008 financial crisis.

That probe is likely to be concluded by the end of the year, SFO lawyer Andrew Onslow said at a London court hearing in a separate lawsuit against Barclays filed by the investment firm that helped broker the deal. A decision on charges is expected soon afterward, he said.

The SFO is set to receive about 100,000 additional documents from Barclays, Onslow said. The fraud prosecutor is preparing to re-interview some of the 44 witnesses and has concerns about the PCP case interfering with its probe.

Hit the link below to access the complete Bloomberg News article:

Barclays Will Get Decision on Qatar-Deal Fraud Charges Next Year

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