Barclays’ Lawyers Fell In Line With Qatar Deal, SFO Says
Law360, London (January 31, 2020, 5:01 PM GMT) -- Barclays' legal team merely fell in line with a plan by executives to pay Qatar extra fees for investing in the bank during the financial crisis despite the bankers' arguments that they won full clearance for the deal, a Serious Fraud Office prosecutor told a jury Friday.
The executives on trial for allegedly creating a sham agreement to hide an additional £322 million ($422 million) commission to the Arab country from other investors had argued that their in-house counsel signed off the deal. But prosecutors said in closing arguments that the attorneys were simply “acting on instruction” from the bankers when they didn't...
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