Former Barclays Banker Pretended To Make Qatari PM Wait

A former banker associated with the Barclays Bank has stated that he had pretended that he was busy. He did so to ensure that he did not appear panicked when negotiations over an investment of $2.6 billion from Qatar were taking place. This investment had managed to save the Barclays Bank from a bailout by the government while the financial crisis was in full swing in 2008.

Currently, a number of senior bankers associated with Barclays Bank are facing the criminal charge of conspiracy to commit fraud. These include Roger Jenkins who served as the chairman of Barclays Bank’s banking unit of the Middle East. Others include Tom Kalaris who is a former CEO in the wealth division and Richard Boath who was a European divisional head of the bank. During the crisis in 2008, Barclays had got a total of £12 billion as emergency funds from mostly Gulf investors.

Jenkins who was the head of the Middle East unit of Barclays had made the PM of Qatar wait for a meeting in June 2008. This was done to prevent him from looking desperate.

This was revealed when a phone call was played for the jury in London at the ongoing fraud trial.

Jenkins had also told that he needed to be elsewhere for other meetings.

Read More:

Leave a Reply

Your email address will not be published. Required fields are marked *