So they gave money to Qatar Holdings for them to buy Barclay's shares to keep Barclay's share prices up and included a £330m sweetener.
Clever but dodgy.
I wonder how much more bad news is priced into Barclays current share price.
“Give a man a fish and feed him for a day. Teach a man to fish and feed him for a lifetime. Teach a man to cycle and he will realize fishing is stupid and boring”
So they gave money to Qatar Holdings for them to buy Barclay's shares to keep Barclay's share prices up and included a £330m sweetener.
Clever but dodgy.
So the reasons it's hot stuff is because SFO are accusing the guys of being dishonest, which means it's a criminal charge and a much higher bar of proof to clear.
Otherwise it would have been a big fine from the FCA.
Is also unusual to charge a big bank for criminal activity.
It can't be coincidental that the SFO has been banging the drum loudly the past 2 months because of May's plans to shut them down, so I wonder if the case isn't as watertight as it could have been; perhaps it's been brought to a head sooner than ideal.
The Conservatives have received a £50,000 donation from a Syrian-born businessman recently questioned by the Serious Fraud Office.
Ayman Asfari, 58, chief executive of oil services group Petrofac, made the donation this month. His wife Sawsan donated £50,000 to the Tories at the same time.
Asfari was quizzed by the SFO as part of a probe of Unaoil, a Monaco-based firm accused of corruptly securing contracts. Petrofac used Unaoil for consultancy work in Kazakhstan between 2002 and 2009.
So they gave money to Qatar Holdings for them to buy Barclay's shares to keep Barclay's share prices up and included a £330m sweetener.
Clever but dodgy.
So the reasons it's hot stuff is because SFO are accusing the guys of being dishonest, which means it's a criminal charge and a much higher bar of proof to clear.
Otherwise it would have been a big fine from the FCA.
Is also unusual to charge a big bank for criminal activity.
The FCA does bring criminal charges as well. I have been told that it leads all the complicated cases. This is the problem with the SFO - it is stuck between the police and the FCA, so I guess the argument is that it could be split in two.
That the FCA and SEC have favoured fines rather criminal prosecutions is a great shame. I have been told it is about efficiency, but the complete lack of prosecutions in the last recession is a bit too efficient for me.
From the link. I like this. Did the SFO boys get sidetracked? I wonder if one of them popped out to the corner shop to get some Corn Flakes and 6 litres of water at some point
"A further embarrassment was the SFO mislaying 32,000 pages of evidence in a 2008 case against BAE Systems, with the documents later being unearthed at a cannabis farm in London."
It can't be coincidental that the SFO has been banging the drum loudly the past 2 months because of May's plans to shut them down, so I wonder if the case isn't as watertight as it could have been; perhaps it's been brought to a head sooner than ideal.
Or another example of TM's pisspoor timing and lack of judgement?
pinno
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Clever but dodgy.
I wonder how much more bad news is priced into Barclays current share price.
Desmond Tutu
So the reasons it's hot stuff is because SFO are accusing the guys of being dishonest, which means it's a criminal charge and a much higher bar of proof to clear.
Otherwise it would have been a big fine from the FCA.
Is also unusual to charge a big bank for criminal activity.
and facing lengthy jail time which means they won't want to settle which ties Barclays corporate hands
It can't be coincidental that the SFO has been banging the drum loudly the past 2 months because of May's plans to shut them down, so I wonder if the case isn't as watertight as it could have been; perhaps it's been brought to a head sooner than ideal.
Efficiency concerns, mainly.
Oh, and a footnote here: http://www.thisismoney.co.uk/money/mark ... a-May.html
The FCA does bring criminal charges as well. I have been told that it leads all the complicated cases. This is the problem with the SFO - it is stuck between the police and the FCA, so I guess the argument is that it could be split in two.
That the FCA and SEC have favoured fines rather criminal prosecutions is a great shame. I have been told it is about efficiency, but the complete lack of prosecutions in the last recession is a bit too efficient for me.
"A further embarrassment was the SFO mislaying 32,000 pages of evidence in a 2008 case against BAE Systems, with the documents later being unearthed at a cannabis farm in London."