Barclays and Former Executives Charged Over Qatar Fund-Raising
The fraud office said that it had charged Barclays, its former chief executive John S. Varley
and the former bankers Roger A. Jenkins, Thomas L. Kalaris and Richard W. Boath with conspiracy to commit fraud by false representation related to the June 2008 fund-raising.
A number of former executives had been interviewed as part of the investigation, including the former chief executives Mr. Diamond
and Mr. Varley, the former finance director Chris Lucas, and Mr. Jenkins.
By CHAD BRAYJUNE 20, 2017
LONDON — Barclays, its former chief executive and three other former senior managers were criminally charged on Tuesday over
agreements the bank struck with Qatar as it sought to avoid a government bailout during the 2008 global financial crisis.
The accusations by the Serious Fraud Office are the first criminal charges to have been brought in Britain against a bank
and its former executives as a result of actions taken as the financial crisis worsened.
The Financial Conduct Authority, another British regulator, reopened its own investigation
in the capital raising this year after new documents emerged in the matter
The regulator had indicated in 2013 that it planned to fine Barclays £50 million in the case and
that the bank had been “reckless” in breaching disclosure rules related to the advisory agreements, the bank previously said.