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Barclays says SFO charges regarding the bank's capital raising in 2008 dismissed by UK Crown Court

The SFO filed criminal charges in June 2017 against the lender and four of its former top executives for their handling of Middle Eastern investments that helped save the bank at the height of the financial crisis

Barclays office
But Barclays said, the SFO is likely to try and re-instate the charges by applying to a High Court judge to re-commence proceedings

Barclays PLC (LON:BARC) has said that charges levelled against it by the Serious Fraud Office (SFO) regarding the bank's capital raising in 2008 have been dismissed by the UK Crown Court.

In June last year, the SFO filed criminal charges against the FTSE 100-listed lender and four of its former top executives for their handling of Middle Eastern investments that helped save the bank at the height of the financial crisis.

READ: Barclays reportedly urged to slim down its investment banking arm by activist investor

In a statement on Monday, Barclays revealed that two of the charges against it - for conspiring with former senior officers and employees of the company to commit fraud by false representations relating to advisory services agreements entered into with Qatar Holding LLC in 2008 - were dismissed.

It added that other charges against Barclays and its investment banking business for unlawful financial assistance regarding a US$3bn loan to Qatar in November 2008 were also dismissed.

The bank, however, said that the SFO is likely to try and re-instate the charges by applying to a High Court judge to re-commence proceedings via a new indictment.

In early afternoon trading, Barclays shares in  London were 1% higher at 209.55p.

Quick facts: Barclays

Price: £1.40

Market: LSE
Market Cap: £24.16 billion
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