The Presidential Daily Brief

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    Barclays Faces Crisis-Era Criminal Charges

    Are they coming home to roost? After a five-year investigation into events during the 2008 financial crisis, Britain’s Serious Fraud Office has filed criminal charges against Barclays, four former executives and an affiliated holding company. The case involves $8.1 billion raised from Middle Eastern investors — the very cash that propped the bank up without a government bailout. Regulators charge that Barclays was lending to itself illegally, evidenced by large undisclosed payments to Qatari investors. It’s the first such criminal case, and caused Barclays shares to drop in European trading.

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