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August 15th, 2014 
FAKE NEWS for the Zionist agenda A document sent to the shareholders of the British bank Barclays has disclosed the full extent of the bank’s legal woes, ranging from rigging interest rates to failing its customers.
The 146-page investor prospectus, which was published as part of a £60-billion program of bond sales, revealed that the bank faces multimillion-pound payouts and years of costly litigation.
Barclays’ reputation has been mostly tarnished over its involvement in a rate fixing scandal and manipulation of foreign exchange trade. The bank, together with nine other banks, faces a $1.25-billion claim over the manipulation of the London Interbank Offered Rate (Libor).
Barclays paid £290 million ($454 million) to US and British regulators for manipulating Libor and the Euro Interbank Offered Rate (Euribor) between 2005 and 2009.
The troubled bank is also accused of rigging electricity markets in California and of not publishing key information on the UK stock market. Moreover, it is accused of ripping off its own clients in its so-called dark pool, a private trading platform that allows investors to remain anonymous until trades are completed.
Barclays has come under fire for increasing bonuses for its managers by ten percent from £2.17 billion in 2012 to £2.38 billion in 2013 at a time of shrinking profits.
The bank, which is Britain’s second biggest bank in terms of assets, is expected to announce plans for over 20,000 job cuts out of its 140,000 workforce for the next two years. The planned job cuts, which are part of the banking giant’s restructuring plans, will affect its workforce in the UK and other countries.
Barclays is also likely to significantly trim the number of its branches over the next few months. The bank’s current 1,600 branches are expected to decrease by 400 in the near future.
MOS/HJL
Source Article from http://www.presstv.ir/detail/2014/08/15/375361/barclays-banks-legal-woes-disclosed/
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