Ex-Barclays Exec Tells Jury Qatar Deal Was Close To The Line

Law360, London (January 7, 2020, 5:06 PM GMT) -- A former Barclays executive told the jury at his fraud trial in London on Tuesday he was "comforted" that the bank’s then-chief executive and board had approved an advisory agreement struck with Qatar during the financial crisis, even though it was “close to the line.”

Roger Jenkins said he was “pleasantly surprised” that the chief executive at the time, John Varley, had backed the deal. Serious Fraud Office prosecutors allege the arrangement was a sham to disguise secret fees paid to Qatar over its £3.9 billion ($5.1 billion) investment in Barclays as the bank fought to avoid being nationalized.

“This was...

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