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Barclays shares rise as fraud charges dismissed

Shares in Barclays PLC












BARC










rose after it said that charges leveled against it by the U.K.’s Serious Fraud Office regarding matters concerning the bank’s capital raising in 2008, have been dismissed by the Crown Court.

In June last year, the Serious Fraud Office filed criminal charges against Barclays and four former top executives for their handling of Middle Eastern investments that helped save the bank at the height of the financial crisis.

The bank said Monday that two charges against Barclays, for conspiring with former senior officers and employees of the company to commit fraud by false representations, relating to advisory services agreements entered into with Qatar Holding LLC in 2008, were dismissed.

Other charges against Barclays and Barclays Bank PLC–its investment bank business–for unlawful financial assistance regarding a $3 billion loan to Qatar in November 2008 were also dismissed, the bank said.

The bank said that the Serious Fraud Office is likely to try and re-instate the charges by applying to a High Court judge to re-commence proceedings via a new indictment.

Shares at 1024 GMT were up 1%, or 2.15 pence, at 209.65 pence per share.

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