Barclays former top executives charged with fraud in relation to Qatar dealings
Four former top executives of Barclays appeared before Westminster Magistrates Court in London on 3 July following charges brought by the Serious Fraud Office in relation to their and the bank’s dealings with Qatari investors in 2008.
The four are: John Varley, former CEO of Barclays; Roger Jenkins, former Executive Chairman of Investment Banking and Investment Management for the Middle East; Thomas Kalaris, former Chief Executive, Wealth and Investment Management; and Richard Boath, former Co-Head of Financial Institutions for Europe, the Middle East and Africa
All four were granted bail. Varley and Boath were given unconditional bail while Kalaris and Jenkins were asked to provide security. Jenkins lives in California and Kalaris, although resident in the UK also has properties in the US.
The next court date has been set for 17 July at Southwark Crown Court. The four are expected to plead not guilty. Barclays itself has yet to indicate its intentions. A statement released by the bank n 20 June said, “Barclays is considering its position in relation to these developments.”