Barclays bank and former bosses to stand trial in January 2019

Guardian Web |

John Varley, the former boss of Barclays, will stand trial alongside three former colleagues and the bank itself in , Southwark crown court was told on Monday.

Varley is charged along with Roger Jenkins, Tom Kalaris and Richard Boath over the way the bank raised billions of pounds from Qatar in 2008.

The four men sat alongside each other in the dock at Southwark crown court in London for their first appearance since the high-profile case was transferred there from Westminster magistrates’ court this month. They spoke to confirm their identities.

They are the first senior bankers to face criminal charges in relation to events dating back to the banking crisis almost a decade ago, when Barclays raised £11.8bn in emergency funds from a number of big investors, including Qatar.



Varley, Jenkins, Kalaris – all 61 – and Boath, 58, along with the bank, are charged with conspiracy to commit fraud by false representation in relation to the fundraising in . Varley, Jenkins and the bank are also charged with conspiracy to commit fraud by false representation in relation to the fundraising that took place in . Varley, Jenkins and the bank face a further charge of providing unlawful financial assistance through the loan.

Kalaris, a dual US-UK citizen resident in London, and Jenkins, a British citizen resident in Malibu, California, are on £500,000 bail. Varley and Boath are on unconditional bail.

Varley was chief executive of Barclays until the end of 2010. Kalaris ran the bank’s wealth management arm. Jenkins is a former head of Middle East and north African investment banking and Boath is a former head of the bank’s European financial institutions group.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Invictus MD Strategies Corp

Invictus MD Strategies Corp is engaged in the investment, acquisition and development of synergistic businesses in an effort to increase and sustain growth and value.

Private Markets

Voleo

Voleo is a free download that allows you to form investment clubs with your friends, family, colleagues, classmates, teammates…basically anyone you know and trust. Invest and manage a stock portfolio…

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…