First Published: 2017-06-20

Ex-Barclays CEO charged with fraud over Qatar funding
Britain's Serious Fraud Office charges Barclays bank and four former managers, including John Varley with conspiracy to commit fraud linked to emergency fundraising from Qatar during financial crisis.
Middle East Online

John Varley

LONDON - Britain's Serious Fraud Office said Tuesday it had charged Barclays bank and four former managers, including a chief executive, with "conspiracy to commit fraud" linked to emergency fundraising from Qatar during the financial crisis.

"The Serious Fraud Office has today charged Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance" linked to capital raising from Qatar in 2008, the SFO said in a statement, adding that former CEO John Varley was one of those to face court.

"The charges relate to Barclays Plc's capital raising arrangements with Qatar Holding LLC and Challenger Universal Ltd, which took place in June and October 2008," the SFO said.

It added that they relate also to a $3-billion loan facility made available to the State of Qatar acting through the country's Ministry of Economy and Finance in November 2008.

The other three charged are Barclays' former executive chairman of investment banking Roger Jenkins, the former chief executive of Barclays wealth and investment management Thomas Kalaris and former European head of financial institutions group Richard Boath.

The defendants will appear before London's Westminster Magistrates' Court on July 3, the statement added.

 

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