Barclays case with Qatar is a clear fraud: Economic Expert

CAIRO – 22 June 2017: “Barclays and Qatar have changed the values of shares which is a clear Fraud,” said Ehab Samra , an economic expert, on Wednesday in a telephone call at “Ben El Sotor” TV program on ON Live TV channel, commenting on fraud charges of Barclays in Qatari funding case.

Samra added that an agreement was concluded between Qatar and Barclays Bank to increase the bank’s equity capital in an illegal way to prevent a bailout during declining economic conditions in 2008.

“Britain's Serious Fraud Office (SFO) said Tuesday it had charged Barclays Bank and four former managers, including a chief executive, with "conspiracy to commit fraud" linked to emergency fundraising from Qatar during the financial crisis,” the BBC reported.

The fraud office said that it had charged Barclays, John Varley, its former chief executive, and the former executives Roger A. Jenkins, Thomas L. Kalaris and Richard W. Boath with conspiracy to commit fraud by false representation related to the June 2008 fund-raising.

“The four men are expected to appear in Westminster Magistrates’ Court in London on July 3. The fraud office has provided scant detail about the underlying accusations, as charging documents are not filed publicly in Britain before the first court appearance,” the New York Times reported .