A Barclays Bank building is seen at Canary Wharf in London, UK, May 17, 2017. REUTERS / Stefan Wermuth
LONDON (Reuters) – A judge on Friday rejected the Serious Fraud Office's request to reopen the indictment of Barclays (BARC.L) beyond capital raising in 2008, possibly the biggest remaining legal issues facing the bank during the financial crisis.
A British court had rejected the indictment of the bank in May, a decision that the OFS had issued at the time it sought a repeal by appealing to the High Court to reinstate it.
Barclays denies the SFO's claim that a $ 3 billion loan it issued to Qatar in November 2008 was coupled with a Qatari investment in the UK bank that ultimately helped Barclays rescue the British Avoid government during the financial crisis.
Qatar, which is a major investor in the UK, has not been charged with misconduct, but public companies in the UK are usually prohibited from borrowing money to buy their own shares, which is known as "financial support."
The OFS had filed charges that Barclays had received this support unlawfully, and that he had conspired with former executives to commit fraud over two so-called "advisory services" between Qatar and the bank.
The collapse of one of the most prominent corporate persecutions is a major setback for the OFS, which has been criticized in recent years by British politicians.