Barclays 2008 Qatar fundraising trial set for Jan 2019

Lawrence Kim
July 17, 2017

The trial of four former Barclays executives charged with fraud in relation to emergency fundraisings in 2008 has been scheduled for January next year.

The Serious Fraud Office (SFO) last month charged Barclays Plc, John Varley, Roger Jenkins, Tom Kalaris and Richard Boath with conspiracy to commit fraud by false representation when they negotiated a capital injection for the bank from Qatar. All four of the former executives were present at Southwark Crown Court.

The most senior United Kingdom banking executives to face criminal charges since the financial crisis, the case has attracted a huge amount of media attention.

Barclays raised £4.5bn from investors including the Qatari royal family in June 2008.

Varley, who was chief executive between 2004 and 2011, Barclays and Jenkins also face a charge of unlawful financial assistance in relation to a US$3bn loan provided to the State of Qatar.

Mr Justice Edis listed the trial for that date.

He is now based in Malibu, California.

Kalaris, a London-based U.S. citizen, ran the wealth management arm of Barclays.

Kalaris used to lead the bank's wealth and investment management division, while Boath was former head of the European financial institutions group at Barclays.

Barclays said previously that the United States justice department and Securities and Exchange Commission is also investigating these agreements, and that the Financial Conduct Authority had investigated.

Other reports by Click Lancashire

Discuss This Article