The Discreet Science
Barclays Faces $435 Million Fine, Another Probe – WSJ.com
The Wall Street Journal reports that Barclays is facing multiple investigations including an Anti-Corruption probe:
The corruption investigation focuses on potential violations during the banks efforts to raise money from Middle Eastern investors in the early days of the financial crisis. The probe, being conducted by the Justice Department and the Securities and Exchange Commission, is at an early stage.
Barclays said Wednesday that it is investigating the matter itself and cooperating with authorities. The U.S. investigation follows a similar probe that British regulators opened earlier this year.
According to people briefed on the U.S. probe, it is examining Barclayss use of middlemen serving as brokers to connect the bank with powerful Middle Eastern interests at a time when the bank was seeking a cash injection from investors in the region.
via Barclays Faces $435 Million Fine, Another Probe – WSJ.com.
