First Published: 2018-02-12

UK presses fraud charges against Barclays over Qatar loan
Serious Fraud Office charges Barclays PLC over alleged fraud linked to emergency fundraising from Qatar during financial crisis a decade ago.
Middle East Online

Barclays PLC and four of its former bosses will face trial in 2019 on allegations over the Qatari fundraising

LONDON - Britain's Serious Fraud Office on Monday charged a unit of Barclays over alleged fraud linked to emergency fundraising from Qatar during the financial crisis a decade ago, the bank said.

The announcement follows a decision by the SFO in June last year to charge Barclays PLC, or the unit's parent group, over the same alleged offence.

"The SFO has today charged Barclays Bank PLC with the same offence in respect of the loan as charged against Barclays PLC on 20 June 2017," a statement from the bank said on Monday.

Barclays PLC and four of its former bosses will face trial in 2019 on allegations over the Qatari fundraising, it had already been announced.

Barclays former chief executive John Varley and ex-executives Roger Jenkins, Thomas Kalaris, and Richard Boath have all been charged with conspiracy to commit fraud over a June 2008 bid to raise capital.

Barclays PLC, Varley and Jenkins have also been charged with providing unlawful assistance over allegations linked to an October 2008 fundraising.

It will be the first time that a British bank has faced a criminal trial over its conduct during the financial crisis.

 

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