Ex-Barclays Execs Faked Paper Trail To Hide Fraud, Jury Told

Law360, London (October 11, 2019, 5:07 PM BST) -- Barclays executives who conspired to pay £322 million ($396 million) in secret fees to secure capital from Qatar during the financial crisis created a fake “audit trail” to cover their tracks, prosecutors told a London jury Friday during the bankers’ fraud trial.

The Serious Fraud Office alleges that the former Barclays bankers deceived the market by falsely saying the added millions demanded by Qatari investors were given in exchange for “advisory services.” Other investors were told in 2008 that they would receive a 1.5% rate, but the Qataris sought more than double that amount, SFO attorney Edward Brown QC of QEB...

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