SFO Spent £12M On Failed Barclays Prosecution

Law360, London (March 13, 2020, 5:36 PM GMT) -- The Serious Fraud Office revealed Friday that it spent £12 million investigating and prosecuting three former Barclays executives whose acquittal on fraud charges has raised questions about its decision to take on the high-profile case.

The agency spent eight years investigating fraud allegations linked to the bank’s financial crisis-era fundraising, though it took jurors just six hours of deliberations to reject the case.

The final bill to taxpayers is £12.24 million ($15.1 million), which includes salaries, fees owed to accountants and counsel, plus office charges, travel and investigative costs, the agency said.

The jury of seven women and five men found...

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