Barclays Share News (BARC)

(ShareCast News) - Barclays Plc is alleged to have loaned £2.26bn to Qatari investors to aid their purchase of shares in the lender during the worst moments of the global financial crisis in 2008.Documents filed in the high court in the UK by PCP Capital Partners said the bank failed to disclose the transaction, as well as paying the investors £280m in hidden fees.The filing describes Barclay's capital raising as a "fraud"."Barclays' October 2008 Capital Raising was a fraud on its shareholders perpetrated through a series of unlawful transactions and dishonest conduct towards existing shareholders and prospective investors," PCP claimed.The investment group, headed by Amanda Staveley, is taking Barclays to court for more than £700m in damages, interest and costs incurred by its failure to match the fees paid to the Qatari investors.It is the latest development in a long-running dispute between Barclays and PCP over the transaction, which helped the lender to avoid a government bailout during the financial storm.Barclays has denied any wrongdoing, saying that the claim is "misconceived and without merit and Barclays will be vigorously defending it."