Barclays, Former Executives Charged Over Qatar Fundraising
Barclays Plc and four former executives were charged with conspiracy to commit fraud regarding the bank’s 2008 capital raising from Qatar as it sought to avoid a bailout during one of the most turbulent periods in financial history.
The Serious Fraud Office said Tuesday that former Chief Executive Officer John Varley, former chairman of investment banking for the Middle East Roger Jenkins, ex-wealth chief Thomas Kalaris, and Richard Boath, the former European head of the bank’s financial institutions group, face charges along with Barclays.
The four men are the most senior U.K. banking executives charged since the financial crisis, which sent banks across the globe scrambling to raise funds to cover billions in losses. The case relates to fees Barclays paid to the Qatar Investment Authority and a $3 billion loan facility it made available to the nation while the bank raised 12 billion pounds ($15 billion) from Qatari and other investors.
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https://www.bloomberg.com/news/articles/2017-06-20/barclays-four-former-executives-charged-over-qatar-fundraising
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