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LONDON – The former prime minister of Qatar has asked for personal expenses to invest in Barclays during an emergency appeal in 2008, the Financial Times said Saturday.
The bank also paid an additional commission to Qatar's sovereign wealth funds, the court said.
During the first week, the UK's Serious Fraud Office claims that the then CEO, John Varley, and the three other defendants, Richard Boath, Thomas Kalaris and Roger Jenkins, misled investors during of a fundraiser during the financial crisis by paying $ 322 million in secret fees that were not disclosed properly.
Former Barclays senior executives who organized the fundraising as the financial crisis began to be felt admitted that it was "shady" and "wrong" for an incumbent prime minister to perceive expenses.
One of them mentioned "the danger we are rumbling".
The jury learned on Friday that paying Qatari prime minister Sheikh Hamad Bin Jbadim Bin Jabr Al-Thani was even more problematic at the time.
He personally invested in Barclays alongside the sovereign fund, and he claimed the same fees to do so.
Sheikh Hamad's Challenger vehicle has invested more than £ 4 billion alongside the Qatari sovereign fund in fundraising.
John Varley, chief executive of Barclays, as well as Jenkins, Boath and Tom Kalaris, who headed the bank's badet management team, lied to the market and other investors about the fees of the bank. the bank in Qatar during two emergency fund calls worth more than £ 11 billion. . This is the first jury trial of a CEO of a major bank regarding events during the financial crisis. – agencies
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