SFO applies to reinstate charges against Barclays over Qatari crisis funding

Barclays is to face a further legal battle over its controversial 2008 emergency fundraising as the Serious Fraud Office looks to reinstate charges against the banking giant.

The Serious Fraud Office (SFO) lodged an application in the High Court on Monday seeking to reinstate all charges against Barclays Plc and Barclays Bank Plc relating to the fundraising from Qatari investors at the height of the financial crisis.

Barclays confirmed it plans to defend the application brought by the SFO.

It comes after the charges were dismissed by Southwark Crown Court in May.

The SFO had sought to prosecute the lender for two offences of conspiring to commit fraud by false representations regarding advisory services agreements with Qatar Holding in 2008.

In addition, there was one alleged offence of unlawful financial assistance in relation to a three billion US dollar (£2.3 billion) loan provided by Barclays to the State of Qatar in the same year.

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