Financier in Barclays deal weeps at ‘hustle’ court claim

A FINANCIER wept yesterday as she was accused of operating a ‘hustle’ to try to take a billion pounds off Barclays.

Amanda Staveley, who once dated Prince Andrew, claims the bank owes her up to £1.5billion after edging her out of a major deal in 2008.

The 47-year-old broke down yesterday when the bank’s QC accused her of lying over £11million in ‘expenses’ and a £400million fee.

Jeffery Onions said she was falsely trying to claim she and her firm PCP Capital were crucial to the deal during the financial crisis when she was only a ‘bit-player’ ready to use false documents.

‘You were effectively engaged in what might be colloquially called a hustle – trying to place yourself at the centre,’ said Mr Onions. ‘You had no funds to invest, and nothing to offer.’ He claimed she was worried that she would not be paid by Abu Dhabi for her work and put in a false claim for the £11million.

Mr Onions said: ‘Your fee was in jeopardy because you annoyed Abu Dhabi by seeking publicity for yourself.

‘You were someone who was prepared to lie and rely on false documents to extract money you were not entitled to.’ He said Miss Staveley, pictured, had taken legal action, years after the event, because she gambled Barclays would cave in to avoid bad publicity and the attention of the authorities. The £7billion deal with Abu Dhabi saved the bank from seeking a government bailout.

Following her cross-examination, Miss Staveley’s barrister Joe Smouha QC said: ‘That was the most extraordinary and bizarre 29 minutes. There were a large number of points not bearing any resemblance to the case. It was a ridiculous rendition. There were new allegations of fraud, new allegations of dishonesty.’

Mr Smouha claims the case ‘reveals the prefinancial crisis arrogance, ethical carelessness, focus on bonuses, on money and on jobs and, unfortunately, sexism and misogyny’.

Miss Staveley alleges Barclays chiefs had smeared her as a ‘tart’ and a ‘foxy blonde’.

Former Barclays executive Stephen Jones resigned as head of lobby group UK Finance this week after the High Court case heard of as-yet unspecified ‘deeply unpleasant personal comments’ by him about Miss Staveley. The case continues.