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Why is this Syrian billionaire suing Barclays?

by LLB Editor
24th Mar 16 9:35 am

Barclays vs. Wafic Said battle hots up

Last week, Barclays banned Syrian billionaire Wafic Said after conducting an anti-money laundering review.

Now the 76-year-old Monaco resident is suing Barclays saying he doesn’t know why the bank decided to end its 40-year relationship with him.

Said, who is worth £1.5bn and is a Tory donor, has hit out at the bank for using him to mend the bank’s image.

A statement from Said’s PR firm Bell Pottinger read: “Mr Said said he was not prepared to be treated in this cavalier manner by a bank he had worked with for more than 40 years.”

A Barclays spokesman said: “We would never comment on ongoing litigation or individual customers.”

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