Former senior Barclays executive Roger Jenkins told a fraud trial over undisclos...
Prosecutors allege the bankers lied to the market and other investors by not properly disclosing 322 million pounds of extra payments to Qatar, disguising them as “bogus” advisory services agreements.When Barclays started to cast around for cornerstone investors during the financial crisis Jenkins, who was known as “Big Dog” by colleagues, wanted to bring in Qatar, which was seeking to diversify its vast oil and gas wealth.
Jenkins, who read his emailed response out in court, said: “Oh yes he won’t like that. He wants to be special Gulf guy.” “They will have seen the RBS rights issue with a 42% discount so they would be pushing us as hard as possible to apply that discount to this transaction and apply an appropriate fee to this transaction,” he told the jury.
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