Barclays 2008 Qatar fundraising trial set for Jan 2019

Postado Julho 17, 2017

The outcome of the criminal trial of Barclays and four former executives is unlikely to be known until mid-2019, after a judge set the start date in a London court for January 2019 and said the trial was expected to last for four months.

The lender, ex-chief executive John Varley and former bankers Roger Jenkins, Thomas Kalaris, and Richard Boath, were last month charged by the Serious Fraud Office with conspiracy to commit fraud over undisclosed payments made to Qatari investors as part of negotiations for a capital injection.

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. They spoke to confirm their identities.

That means the trial should end some 11 years after the United Kingdom bank's controversial fundraising with Qatari investors that is the subject of the case.

The charges relate to two fundraisings in 2008, totalling almost £12bn, which included investments from Qatar Holding and Challenger Universal.

Varley, who was chief executive between 2004 and 2011, Barclays and Jenkins also face a charge of unlawful financial assistance in relation to a US$3bn loan provided to the State of Qatar.

Kalaris used to lead the bank's wealth and investment management division, while Boath was former head of the European financial institutions group at Barclays.