Published: Mon, July 17, 2017
Global News | By Stacy Ballard

Barclays and former senior executives trial date set for January 2019

Barclays and former senior executives trial date set for January 2019

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.

Four former Barclays Plc 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 deal - which allowed the bank to avoid taking a taxpayer bailout - was the subject of a five-year investigation by the Serious Fraud Office.

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The defendants face a charge of conspiracy to commit fraud by false representation.

Barclays, Varley and Jenkins also face a charge relating to fundraising in October 2008, while they have also been charged with providing unlawful financial assistance.

Boath, of Henley-On-Thames, Oxfordshire, Jenkins, of Malibu, California, Kalaris, of Thurloe Square, Kensington, west London, and Varley, of Pembridge Villas, Notting Hill, west London, appeared at Southwark Crown Court on Monday. Kalaris and Boath have been charged with a single count of conspiracy to commit fraud by false representation during a June 2008 capital raising. It followed that up in October of the same year with a fresh £7bn capital raising.

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Varley was chief executive of Barclays until the end of 2010.

In a court hearing in London today, Judge Andrew Edis set the date of the trial for the case, which marks the first criminal charges to be brought in the United Kingdom against a bank for activities during the credit crunch.

Jenkins, who left the bank in 2009, was investment banking chief.

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Boath is the former head of the bank's European financial institutions group.

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