Sheik's Suit Could Imperil Barclays' $8B Deal

Law360, New York (June 23, 2008, 12:00 AM EDT) -- A Qatari minister has reportedly alleged that a Barclays Group employee stole €50 million ($78 million) from him and has pledged to pursue a case against the British bank in Spanish court, potentially threatening the $7.9 billion in financing the bank hopes to receive from Qatar's sovereign wealth fund and three other foreign investors.

Abdul Aziz al-Thani, a Paris-based billionaire who is the brother of the Qatari emir, accuses Barclays of gross negligence related to an employee's stealing roughly €4 million ($6.2 million) per month from...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.