British authorities have criminally charged Barclays and four of its former executives with conspiracy to commit fraud, while the U.S. Department of Justice and the U.S. Securities and Exchange Commission investigate the bank, according to a Tuesday statement from Barclays.
Britain’s Serious Fraud Office (SFO) filed the criminal charges, involving multibillion-dollar deals the bank made with Qatar in order to avoid a bailout during the global financial crisis in fall 2008. The charges include two counts of conspiracy to commit fraud by false representation and one count of unlawful financial assistance.
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