Barclays fraud trial over 2008 financial crisis fundraising deals set for 2019

Barclays and former executives set for January trial over Qatar fundraising charges

Barclays and ex-bosses to face 2019 trial over alleged financial crisis deals

The bank, ex-group boss John Varley, 61, Roger Jenkins, 61, Thomas Kalaris, 61, and Richard Boath, 58, have all been charged with conspiracy to commit fraud over a June 2008 bid to raise capital.

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

The bank, Varley and Jenkins also face one charge of unlawful financial assistance.

The four former executives are the most senior bankers to be charged for events that occurred during the financial crisis. Kalaris and Boath have been charged with a single count of conspiracy to commit fraud by false representation during a June 2008 capital raising.

The Serious Fraud Office charges relate to 322 million pounds ($421 million) in fees Barclays paid the Qatar Investment Authority and a $3 billion loan facility it made available to the nation as part of side deals to the 12 billion pounds fundraising from the Qataris and others.

Edward Brown QC, prosecuting, asked for the trial not to be listed until 9 January 2019 to allow enough time to prepare the complex case.

Varley, who appeared in court wearing a grey suit and green tie, was chief executive between 2004 and 2011.

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

Latest News