Ex-Barclays chief to be quizzed by fraud office over alleged bribes 

Former Barclays boss Bob Diamond is to be grilled by the Serious Fraud Office over alleged bribes paid by the bank to Middle East investors during the financial crisis.
The tainted former chief executive is among a dozen former top bosses who will be questioned under caution by the white collar crime and anti bribery agency.

Others are thought to include Mr Diamond’s predecessor John Varley, finance chief Chris Lucas, one of its top paid bankers Roger Jenkins and its top lawyer Mark Harding.
All have left the bank, with Mr Diamond ousted in June 2012 after it was fined £290m for rigging Libor interest rates.

An interview under caution means the SFO believes it has reasonable grounds to believe the individuals involved knew about or participated in a crime.
Mr Diamond, who has denied any wrongdoing, and other former top bankers will be warned before the interview.
‘You do not have to say anything. But it may harm your defence if you do not mention something when questioned that you later rely on in court.’

The interviews mark an escalation of a criminal probe which began in August 2012.
The SFO is investigating concerns that Barclays failed to properly disclose £322million in fees it paid to Qatari investors during the bank’s two emergency cash calls in 2008.

Qatar Holding, part of the Arab state’s sovereign wealth fund which invests its vast oil and gas riches, invested £5.3billion in Barclays in June and October 2008, helping it to avoid a Government bail-out.
Mr Diamond was then head of the investment bank and based in New York.

Roger Jenkins, the multi-millionaire former boss of Barclays’ controversial tax advisory business and a former boyfriend of supermodel Elle MacPherson, was interviewed before Easter.
It is not thought an appointment has been set for his interview. But his inclusion may come as a surprise to some.

The City watchdog has already said it wants to fine Barclays £50million. Its probe centred on four senior executives, including Mr Lucas and Mr Jenkins, and not on Mr Diamond.
The SFO, which was dubbed the Serious Farce Office after a series of botched investigations, has been flexing its muscle.

Last week it charged three former US-based Barclays traders for allegedly conspiring to rig Libor interest rates.
A spokesman for Mr Diamond said: ‘Mr Diamond will continue to assist wherever he can on anything related to Barclays but is unable to comment on any specific inquiry.’
Barclays is fighting the £50m fine from the Financial Conduct Authority and has denied wrongdoing. It refused to comment.
Source: dailymail

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