SFO Must Radically Overhaul Prosecution Approach

Law360 (March 20, 2020, 2:52 PM EDT) -- The reputation of the Serious Fraud Office is in tatters after three Barclays executives were acquitted of fraud charges by a jury at the Central Criminal Court of England and Wales last month. This latest failure to secure a conviction comes after the Serious Fraud Office spent over seven years and some £15 million of taxpayers’ money investigating and prosecuting the matter.

The SFO had accused the three executives of making fraudulent statements to the market. The case arose out of a 2008 deal where Barclays raised £11.2 billion from Qatar, thereby avoiding a taxpayer funded bailout. The SFO alleged that...

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