Markets

Barclays executive got a £25 million bonus during the financial crisis for his role in Qatari funding deal to ‘save our arses’

The UK’s Serious Fraud Office alleges that former Barclays CEO John Varley and other executives misled investors in raising funds during the financial crisis. Barclays executives spent frantic hours negotiating with Qatari investors, which led to millions in hidden fees being funnelled to the investors via financial instruments, a London […]
Barclays executive got a £25 million bonus during the financial crisis for his role in Qatari funding deal to ‘save our arses’
Markets

Barclays executives were ‘rumbled’ by Qataris during payment negotiations, jury hears on day 3 of trial in London

Barclays executives were “rumbled” by Qatari investors during the bank’s emergency fundraising in 2008, a conversation played in court Friday indicates. In their case against the executives over allegations related to the crises-era events, prosecutors said the bank created an internal memo designed to provide a misleading “audit trail.” Alongside […]
Barclays executives were ‘rumbled’ by Qataris during payment negotiations, jury hears on day 3 of trial in London
Markets

Internal Barclays messages said the bank would have been ‘dead’ if not for Qatari investors who had it ‘by the balls,’ prosecutors say

Prosecutors in court on Thursday accused Barclays executives of using secret agreements in 2008 to pay Qatari investors fees that were more than double the rate other investors paid. The court saw evidence that one executive had speculated that without the agreement, the bank would have been “dead.” The prosecution […]
Internal Barclays messages said the bank would have been ‘dead’ if not for Qatari investors who had it ‘by the balls,’ prosecutors say