First Published: 2017-06-20

Ex-Barclays CEO charged with fraud over Qatar funding
Britain's Serious Fraud Office charges Barclays bank and four former managers, including John Varley with conspiracy to commit fraud linked to emergency fundraising from Qatar during financial crisis.
Middle East Online

John Varley

LONDON - Britain's Serious Fraud Office said Tuesday it had charged Barclays bank and four former managers, including a chief executive, with "conspiracy to commit fraud" linked to emergency fundraising from Qatar during the financial crisis.

"The Serious Fraud Office has today charged Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance" linked to capital raising from Qatar in 2008, the SFO said in a statement, adding that former CEO John Varley was one of those to face court.

"The charges relate to Barclays Plc's capital raising arrangements with Qatar Holding LLC and Challenger Universal Ltd, which took place in June and October 2008," the SFO said.

It added that they relate also to a $3-billion loan facility made available to the State of Qatar acting through the country's Ministry of Economy and Finance in November 2008.

The other three charged are Barclays' former executive chairman of investment banking Roger Jenkins, the former chief executive of Barclays wealth and investment management Thomas Kalaris and former European head of financial institutions group Richard Boath.

The defendants will appear before London's Westminster Magistrates' Court on July 3, the statement added.

 

Tillerson pushes to undercut Iran at landmark Saudi, Iraq meeting

US-backed forces capture key Syria oil field

UN ends Libya talks with no progress made

Gulf share values plummet

Greening the Camps brings food and hope to refugees

No clear US strategy in Syria after Raqqa liberation

More than half of Austrians vote for anti-immigration party

Washington sees potential Hezbollah threat in the US

Cairo killing sparks security concerns among Copts

Iraq PM arrives in Saudi to upgrade ties

35 Egyptian police killed in Islamist ambush

Morocco recalls Algeria envoy over 'hashish money' jibe

Ceremony marks 75 years since WWII Battle of El Alamein

Somalia attack death toll rises to 358

Long road ahead for families of jailed Morocco protesters

How Raqa recapture affects complex Syrian war

Israel hits Syrian artillery after Golan fire

Germany advances Israel submarine deal after corruption holdup

Bashir Gemayel's killer convicted, 35 years later

SDF hails 'historic victory' against IS in Raqa

Hamas delegation visits Iran

Turkish court orders release of teacher on hunger strike

Yemen rebel youth minister urges children to join war

Iran's Guards show no intention of curbing activities in Mideast

EU will cut some money for Turkey as ties sour

Iraqi workers return to oil fields retaken from Kurds

Kurdish disarray shows resurgence of Iraq's army

Iranian military chief visits frontline near Syria's Aleppo

Iraq army takes last Kurd-held area of Kirkuk province

Ancient Turkish town set to vanish forever under floodwaters

Turkey issues arrest warrants for 110 people over Gulen links

Lebanon approves first budget since 2005

Tillerson does not expect Gulf crisis to be resolved soon

Moscow seeks to boost its influence in Kurdistan through oil

Hamas calls US unity comments ‘blatant interference’

OPEC chief pleased with oil market rebalancing

Turkish police detain leading civil society figure

G7, tech giants meet to tackle terror online

Iraq’s Kurdish regional government open to Baghdad talks

Tensions flare among Yemen's rebels

Baghdad court issues arrest warrant for Iraqi Kurd VP

Erdogan, Nigerian counterpart to ramp up cooperation

Russian medics operate on Yemen's Saleh despite embargo

Baghdad condemns oil deal between Russia’s Rosneft, Kurds

Power shifts again in Iraq's multi-ethnic Kirkuk