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Mon 12 May 2014 09:40 AM

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UK fraud office steps up probe into Barclays over Qatar

Former chief executives and other senior members of former management set to be questioned, FT reported

UK fraud office steps up probe into Barclays over Qatar

The UK fraud office stepped up its probe into British bank Barclays Plc's dealings with Qatar, the Financial Times reported on Sunday.

Officials at Barclays were not immediately available for comment Sunday afternoon.

Bob Diamond and John Varley, both former chief executives of the bank, and other senior members of Barclays' former management are set to be questioned under caution by the UK's Serious Fraud Office, the article said.

The Financial Times said this was an acceleration of the SFO's probe into allegedly corrupt arrangements with Qatar as part of the bank's emergency cash call in 2008.

For Barclays, which launched a big restructuring plan last week to boost lagging profitability, the news is an unwelcome reminder of the legacy issues hanging over the bank.

"They've just sliced off two arms and a leg, and still someone's out to get them," said one person involved, according to the article.

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Ken Jackson 5 years ago

For a Bank to be seemingly involved in paying out £millions in commissions from a Company owned by shareholders is a disgrace
Barclays have put numerous businesses out of business when they could have saved them and assisted them
The old saying what goes round comes round is very old however it is very true !
I hope they are fully exposed as having lived at the time in Qatar and reading the involvement I knew exactly what was going on !