Barclays Exec 'Fretted' Qatar Fees Looked Like Bribe
A former Barclays executive told in-house lawyers he was worried that a secret payment to Qatar to secure an investment as part of an emergency fundraising during the financial crisis would be seen as a bribe, prosecutors said at a London fraud trial Monday.
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Private equity adviser Real Assets Partners London settled its suit accusing an investment fund of dodging fees due on a €24 million ($26.4 million) deal, just as the trial in the case was set to kick off Monday.
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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.