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A Barclays Fraud Would’ve Cost Jenkins $64 Million Bonuses

  • Lawyers for three defendants plead case in London fraud trial
  • Ex-bankers deny allegations they hid Qatar fees from investors
Roger Jenkins arrives at Southwark Crown Court in London on Feb. 13.

Roger Jenkins arrives at Southwark Crown Court in London on Feb. 13.

Photographer: Luke MacGregor/Bloomberg
Updated on

Former Barclays Plc executive Roger Jenkins would’ve lost about 50 million pounds ($64 million) in bonuses if he conspired to hide payments to Qatar at the height of the 2008 financial crisis from investors, his lawyer told a London jury.

Jenkins negotiated a deal for Barclays to pay Qatar 322 million pounds in fees to help the bank become the wealthy Gulf nation’s partner of choice and not as a sweetener to help bail the lender out, John Kelsey-Fry said in court on Thursday. Any hint of wrongdoing would have jeopardized Jenkins’s status at the bank, which could have cost him millions when he left the lender.