Serious Fraud Office said to re-interview Barclays executives over Qatar fundraising

The U.K. Serious Fraud Office has started re-interviewing former Barclays executives over the bank’s 2008 Qatar fundraising, as the agency aims to complete its investigation by the end of the year.

Bloomberg News reports that the SFO in recent weeks began questioning individuals in connection with the case for the second time, according to four people with knowledge of the situation, who asked not to be identified because the interviews are private. Among the executives called in are one time Chief Executive Officer John Varley and two other officials who oversaw parts of operations in the Middle East, Roger Jenkins and Richard Boath.

The SFO first interviewed about a dozen former executives, including ex-CEO Bob Diamond, in 2014, two years after opening its investigation. The agency is looking into possible corruption connected to the $422m the bank paid the Qatar Investment Authority in advisory fees in relation to its $9.23bn fundraising at the height of the 2008 financial crisis to avoid a state bailout.

The interview requests come after Barclays handed over about 100,000 internal documents to the SFO from the Qatar deal earlier this year, ending a long-running dispute with the agency over their disclosure. The bank had previously claimed the files were covered by attorney-client privilege and the parties were weeks away from a court hearing when the bank changed its mind. The decision came a few months after Barclays appointed Jes Staley as its new CEO.

To access the complete Bloomberg News article hit the link below:

Ex-Barclays Executives Said to Face Round Two With SFO on Qatar

Barclays Profit Drops on Loss From Asset Disposals

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News