Barclays Wins a Lawsuit about a Controversial Deal with Lenders in the Middle East. Barclays has won a lawsuit about alleged fraud involving a controversial investment round in 2008, that reported by FOX News Point.
According to a statement by the financial group, the judge in London put a line through all the charges about the deal that the British bank agreed with lenders from the Middle East. Barclays thinks that there will still be a case.
The controversial investment round at the time meant that Barclays, was nearly cut out of its capital reserves because of the credit crisis, did not have to rely on state aid.
The way in which the billions deal came about, however, raised many questions.
For example, the shareholders and public classified all the details of the capital injection.
Also, private payments need to make to representatives of the Arab leaders,
including the state fund that invests Qatar’s oil dollars.
Barclays is challenging this case against prosecutors of the agency investigating severe fraud cases in the United Kingdom (SFO). That agency was not instantly available for comment.