Allegations against Barclays Bank and its owner Barclays PLC relating to the raising of money from Qatar, which could have resulted in the loss of the company’s banking license, have been dismissed by the Crown Court. In 2008, Barclays took a £12bn ($16bn) loan from the High Court to avoid a government bailout. The bank then loaned £2.3bn back to the High Court. The UK’s Serious Fraud Office (SFO) claimed the loan constituted “unlawful financial assistance” as it was used to buy shares in the bank. The SFO could apply to Qatar Holdings to have the charges reinstated.
Allegations against Barclays Bank and its owner Barclays PLC relating to the raising of money from Qatar, which could have resulted in the loss of the company’s banking license, have been dismissed by the Crown Court. In 2008, Barclays took a £12bn ($16bn) loan from Qatar Holdings to avoid a government bailout. The bank then loaned £2.3bn back to Qatar Holdings. The UK’s Serious Fraud Office (SFO) claimed the loan constituted “unlawful financial assistance” as it was used to buy shares in the bank. The SFO could apply to the High Court to have the charges reinstated.