Barclays accused of making $3bn in Qatar lawsuit
By Rania Hassan1 •
Source: Arabian Business
Barclays loaned Qatari investors $3 billion (2.25 billion pounds) to help finance an emergency fundraising at the height of the credit crisis in 2008, an effect of the American stock market crash.
The sale was accused of being fraudulent to its shareholders according to recent reports.
Amanda Staveley's (PCP Capital Partners) alleges "that the bank failed to disclose the loan, which was used to buy Barclays shares, and that it paid Qatar 346 million pounds in additional fees and payments."
Barclays has denied any wrongdoing on grounds that they avoided a state bailout.
"The sale was accused of being fraudulent ..." How can a sale be accused? A sale isn't a person nor an organization. What kind of English is this? Are we surrounded by idiots only?
It's a complicated case, will take more time to resolve it.
The truth will come out and show the innocent
Interesting news.. PCP seems to be going after Barclays to recover monies it feels it lost..
Let us see what happens