Barclays is being offered a new form of deal by UK fraud investigators probing the bank’s fundraising from Qatari investors in 2008, according to Sky News.
The Serious Fraud Office (SFO) allegedly wants Barclays to sign a Deferred Prosecution Agreement (DPAs).
DPAs can be struck to waive criminal prosecution in return for full co-operation or agreement on fines. The SFO is yet to sign its first DPA since it got the power to do so last year, but the tool is often used by US prosecutors.
Barcalys signed a DPA with US regulators in 2012 to settle an investigation into Libor rigging.
The SFO has been investigating “certain commercial arrangements between Barclays Bank and Qatar Holdings” since 2012.
In 2013, another watchdog, the Financial Conduct Authority, alleged in its own investigation that Barclays paid around £322 million ($US500 million) to Qatari investors in return for a £4.6 billion ($US7.15 billion) capital injection at the height of the 2008 financial meltdown.
Barclays paid a £50 million ($US77 million) fine but said it would contest the findings.
Sky News said that “some bank directors” aren’t keen on signing the new deal with the SFO, which was sent to the bank a few weeks ago.
Barclays and the SFO both declined to speak to Sky.
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