The UK’s Serious Fraud Office (SFO) has ordered ex- Barclays executives to handover evidence as part of a probe into undisclosed payments the bank made to Qatari investors in 2008, the Financial Times has reported.
The anti-fraud agency commenced a probe in 2012 into £322m ($525m) in advisory fees the bank paid the Qatar Investment Authority as it raised £7bn to avoid a state bailout during the 2008 credit crisis.
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The investigation has so far been fraught with disputes over accessing key evidence, the FT quoted people familiar with the probe as saying.
Bob Diamond, John Varley and other senior members of Barclays’ former management are set to be questioned.
Barclays and the SFO declined to comment.
Previously, Barclays revealed that that it had paid out £116m in advisory fees and commission to Qatar Holdings as part of the 2008 deal with investors.
