Three former top Barclays executives have been cleared of fraud charges linked to how the bank raised billions from Qatar in the financial crisis. The Serious Fraud Office (SFO) had alleged the bank had given Qatari entities secret fees in return for help to survive without a UK government bailout in 2008.
William Boyce QC and Karen Robinson represented Richard Boath, former head of Barclays Financial Institutions Group EMEA, in this, the first criminal trial to examine steps senior bankers took during the UK financial crisis.
Edward Brown QC and Philip Stott prosecuted on behalf of the SFO in this case that spanned 7 years. The first trial was halted by defence submissions, some of which were overturned on appeal by the SFO at the Court of Appeal. A re-trial was ordered, which lasted 5 months, concluding with acquittals.