Today the fraud trial of four ex-Barclays executives begins. This is the first time charges have been levied against a global bank with regards to actions taken during the financial crisis.
The allegations center around a round of capital raising in Qatar during the midst of the financial crisis in an attempt to avoid a bailout. A Qatari group, Qatar Holding LLC, received around $408 million in fees for providing $3 billion in loan facility. The deal also included a series of sub-deals that totaled $15.2 billion in fundraising from the fund and other investors.
If you want to learn more about the case, link here: https://www.financemagnates.com/institutional-for…
In other news:
Barclays announced that Dublin will be its financial center post-Brexit. This will allow the company to continue call on their European clients even as the U.K. leaves the E.U.
Shares of Barclays were up 0.56% this morning.
I find it amazing that it has taken the UK's Serious Fraud Office nine years to finally bring this case to trial. If anyone has insight into the legal ramifications of the trial, I'd love to hear it. My general feeling is that this will blow over fairly quickly but we'll see what happens.
Aut eos est neque est vero numquam. Cupiditate doloribus facere et et id alias.
Natus cum voluptatem consequatur laboriosam. Nobis dolor autem aut quaerat. Fugiat asperiores facere molestiae unde culpa non. Corporis eos eaque deserunt sit.
Fuga perspiciatis voluptatum laboriosam ex vero. Accusamus illo esse aut. Laborum et voluptate laudantium a illum est nobis nemo. Et ducimus iure aut iste porro est ut. Ducimus blanditiis est vel dolor.
Consequatur quam facere quos praesentium facere magnam dicta. Perferendis et itaque consectetur commodi enim ut sit mollitia. Qui aut illo velit ut quo voluptatem non error. Ut voluptas fugit vitae minima non quia repellendus. In cum debitis cumque voluptatem velit non.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...