UK court: Barclays won’t face trial on Qatar deal
LONDON (AP) — Britain’s High Court says Barclays will not face trial on charges relating to its emergency fundraising from Qatar at the height of the financial crisis.
The Serious Fraud Office had accused Barclays over a 2008 deal to give to Qatar Holding LLC a $3 billion loan that was then used to invest in the bank, saving it from a government bailout. The charges were the first in Britain to be brought against a bank and its former executives for activities during the financial crisis.
Southwark Crown Court in London dismissed the charges this year. The High Court upheld the decision on Friday.
The case Friday referred to Barclays as a corporate entity. Individuals still face charges on Jan. 9, 2019.