Former Barclays top brass and bank charged after five-year fraud investigation
London — Barclays Plc and four former executives were charged with conspiracy to commit fraud regarding the bank’s 2008 capital raising from Qatar, following a five-year investigation into one of the most turbulent periods in financial history. On Tuesday, the UK’s Serious Fraud Office said former CEO John Varley, former chairperson of investment banking for the Middle East Roger Jenkins, former deputy head of investment banking Richard Boath and former wealth chief Thomas Kalaris faced charges, along with the bank. The case stems from £322m in fees Barclays paid Qatari investors for a loan as part of a wider £12bn fundraising during the 2008 financial crisis to avoid a state bailout and a $3bn loan facility made available to Qatar. A London court hearing was scheduled for July 3. The case is one of a number of lingering investigations over the bank’s behaviour dating back nearly a decade. Since the financial crisis, Barclays has faced probes ranging from the rigging of key benchmar...
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