LONDON (Reuters) - Barclays has been dragged into an international money laundering investigation after U. prosecutors discovered that Arthur Budovsky, the founder of digital currency exchange Liberty Reserve,
“When British bank Barclays PLC agreed to shell out £25 million ($39 million) to sponsor London’s new public bike-rental program, it envisioned the marketing benefits of seeing its sky-blue logo draped on thousands of cycles around the city. But this week Barclays’ prime marketing opportunity quite literally turned into a curse.
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Barclays PLC and four former executives have been charged with conspiracy to commit fraud and the provision of unlawful financial assistance. The Serious Fraud Office charges come at the end of a five-year investigation and relate to the bank's fundraising at the height of 2008's financial crisis.