You are here: Home - Saving & Banking - News -

SFO investigates Barclays over Qatar payments

0
Written by:
30/08/2012
Barclays has confirmed the Serious Fraud Office (SFO) has started an investigation into payments between it and Qatar's sovereign wealth fund.

The criminal probe will focus on payments made four years ago to Qatar Holdings LLC, part of  sovereign wealth fund Qatar Investment Authority. 

 

The SFO will look into the bank’s 2008 fundraising, after concerns were raise about the fees paid by the bank relating to the deal, the Telegraph reports. 

 

A statement from Barclays confirmed it was under investigation by the SFO in relation to “payments under certain commercial agreements between Barclays and Qatar Holdings LLC”.

 

Last month, the bank confirmed four of its former and current managers – including its finance director – were being investigated by the Financial Services Authority (FSA) over payments linked to Qatar’s £2bn investment in June 2008. 

 

It is understood the FSA has given details of its investigation to the SFO, prompting the department to begin its own investigation. 

 

The Telegraph reports a source close to the investigation said “Barclays as an organisation, not individuals” would be the focus.

 

 

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2201940-coles-adrian
Mutuals claim 24% share of mortgage market in July – BSA

Mutuals claimed 24% mortgage market share in July, up from 17% a year ago, the Building Societies Association (BSA) has...

Close