The UK Treasury is expected to pledge special “blockbuster” funding to the Serious Fraud Office to back its investigation into Barclays’ emergency fundraising five years ago, in a sign of the agency’s escalating probe into the bank.
The cash-strapped SFO, which launched a criminal investigation into the UK bank a year ago, is set to secure about £2m in special funding, the Financial Times has learnt – only the second blockbuster allocation of recent times.
The SFO’s director, David Green, negotiated a similar arrangement for the agency’s sprawling investigation into Libor manipulation, in which Barclays is also a target.
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