Barclays bank bosses face criminal charges in connection with 2008 Qatar deal

British bank Barclays reports profits after taxation diving but group pre-tax profit more than doubling in the first quarter
Carl COURT (AFP/File)
Four are charged with conspiracy to commit fraud relating to massive cash injection during financial crisis

Britain's Serious Fraud Office said Tuesday it had charged Barclays and four former employees, 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.

It said: "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, and a $3bn loan facility made available to the State of Qatar acting through the Ministry of Economy and Finance in November 2008."

John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath will face Westminster magistrates on 3 July.


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