Barclays bank and former bosses to stand trial in January 2019

17 Juillet, 2017, 17:46 | Author: Come Portier
  • BRITAIN-QATAR-BANKING-FINANCE-FRAUD

The trial of Barclays (BARC.L) and four former top executives charged with fraud over undisclosed payments to Qatari investors as part of a 12 billion pound ($15 billion) emergency fundraising during the 2008 financial crisis has been set for January 9 2019, a judge said on Monday.

Varley is charged along with Roger Jenkins, Tom Kalaris and Richard Boath over the way the bank raised billions of pounds from Qatar in 2008.

The charges follow a five-year investigation in relation to the bank's fundraising.

The four former executives are the most senior bankers to be charged for events that occurred during the financial crisis.

The defendants face a charge of conspiracy to commit fraud by false representation.

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The bank itself faces the same charge while Barclays, Varley and Jenkins also face a charge relating to fundraising in October 2008 and are accused too of providing unlawful financial assistance.

Kalaris, a dual US-UK citizen resident in London, and Jenkins, a British citizen resident in Malibu, California, are on £500,000 bail.

Varley was chief executive of Barclays between 2004 and 2011.

Kalaris, who appeared wearing a dark suit and yellow tie, used to lead the bank's wealth and investment management division, while Boath, who wore a dark suit and blue tie, was former head of the European financial institutions group at Barclays.

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