Reinstatement Provided to Former Barclays Portugal President Peter Scott Mottek - WFXG FOX54 Augusta - Your News One Hour Earlier

Reinstatement Provided to Former Barclays Portugal President Peter Scott Mottek

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Peter Scott Mottek, formerly the CEO of Barclays Portugal, has received a recent acquittal of wrongdoing from an internal Barclays' investigation.

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LISBON, PORTUGAL, June 01, 2014 /24-7PressRelease/ -- A recent internal investigation into alleged cartel banking activity has recently resulted in an acquittal for former Barclays Portugal head Peter Scott Mottek. Though the conclusions of Barclays' investigators have yet to be revealed, Peter Scott Mottek has received an acquittal and full reinstatement in the organization.

Peter Scott Mottek, along with fellow Barclays Portugal professionals Antonio Nunes da Silva and Ana Paula Alves, were each suspended by the company in April of 2013. The suspension resulted from an internal company investigation into alleged banking malpractices. The internal probe into competitive business practices began in late 2012, following the determination of the Competition Authority would investigate and searches records of more than 100 people working throughout the banking industry in Portugal.

Peter Scott Mottek, Antonio da Silva and Ana Paula Alves each received a suspension handed down by the bank's British headquarters. According to Curt Hess, then CEO of Barclays Europe and Middle East operations, the suspension was strictly preventive, and in no way indicative of either professional's guilt in the matter. Hess emphasized that the suspension of Peter Scott Mottek and his colleagues was in no way disciplinary, and should not be perceived as such.

Each bank director received two letters notifying them of Barclay's revocation of suspension. The first letter sent to Peter Scott Mottek and others revealed an immediate cessation of suspension. The next letter revealed the bank's desire to terminate each individual's employment contract with the bank, as each professional's function had long since been occupied by other Barclay's professionals. Both Barclays and Peter Scott Mottek are allegedly in the negotiations process, though the bank has not revealed any process details.

The outcome of the investigation into the involvement of 15 Portuguese banks is still pending. Barclays placed co-CEO Jaime Echegoyen in charge, on an interim basis, of Barclays Portugal. Claudio Corradini took over Barclays Portugal in January of 2014.

Peter Scott Mottek and his colleagues have received full reinstatement and acquittal from Barclays' investigators.

About: Peter Scott Mottek, Former Director at Barclays Portugal, has been fully reinstated by Barclays bank officials in 2014.

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