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Supervisor
Elham AbolFateh
AR
Wednesday 26 July 2017

Business

Barclays-Qatar Trial Scheduled for January 2019 by London Judge

Monday 17/July/2017 - 09:03 PM
Sada El Balad

The former boss of Barclays and three other ex-directors of the bank have been told that they will stand trial in January 2019 over the bank's emergency fundraising with Qatar in 2008

 

The trial date was set at a hearing Monday where former Chief Executive Officer 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 U.K. 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 ($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-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.

Edited by amrmamdouh 

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