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Barclays confirms SFO investigation

In a one sentence statement, Barclays has confirmed that the Serious Fraud Office (SFO) has commenced an investigation into payments made by the bank to arrange a bail out by the oil-rich state of Qatar.

In 2008, the bank shunned a taxpayer rescue and opted to raise £4.5 billion via Qatar Investment Authority and Sumitomo Mitsui Banking Corporation.

The SFO’s investigations are reportedly centred on the fees paid to arrange the deal with Qatar.

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