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Comment from criminal defence lawyer on Barclays SFO charges

Posted on: 20th June 2017

Responding to today’s breaking news that Barclays and four former executives have been charged with conspiracy to commit fraud and the provision of unlawful financial assistance, Raj Chada, criminal defence solicitor at London law firm, Hodge Jones & Allen, says:

“There has long been a clamour for individuals at banks to be held accountable for the casino banking that led to the crash and the tax payer bailouts. The irony here is that this prosecution has nothing to do with behaviour that caused the crash but related instead to the terms of a bail out. Even more strange is that Barclays have found themselves in this mess as they eschewed a UK Government bailout and went to Qatar instead.

“No doubt questions will be asked about whether a deferred prosecution agreement (DPA) could have been considered in this case rather than a prosecution starting. The SFO have previously made clear that full cooperation is a key and it is not known what the position with Barclays was.

“Any fine for Barclays could be in the hundreds of millions.”

Ends

Notes for Editors

Hodge Jones and Allen

  • Hodge Jones & Allen acted in the inquests of those killed following the New Cross fire and in the litigation arising from the King’s Cross fire and the Marchioness disaster.
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