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Abu Dhabi, UAESaturday 15 December 2018

Barclays-Qatar Trial Scheduled for January 2019 by London Judge

Four former Barclays executives, including ex-chief John Varley (centre) were originally charged. AP
Four former Barclays executives, including ex-chief John Varley (centre) were originally charged. AP

Four former Barclays executives will stand trial in January 2019 on allegations they conspired to commit fraud over the bank’s 2008 fundraising with Qatar, a London judge said.

The trial date was set at a hearing Monday where former chief executive John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath all appeared at Southwark Crown Court. The men indicated earlier this month they would plead not guilty and were bailed by a lower court.

The most senior UK banking executives to face criminal charges since the financial crisis, the case has attracted a huge amount of media attention. The Serious Fraud Office charges relate to 322 million pounds 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-pound fundraising from the Qataris and others.

Barclays, Varley, and Jenkins each face two counts of conspiracy to commit fraud by false representation and one count of unlawful financial assistance between May and November 2008 in relation to the British lender’s June and October fundraising efforts. Boath and Kalaris each face one fraud count between May and August over the June capital raising.

Bloomberg