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Mon 17 Jul 2017 02:52 PM

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Barclays-Qatar trial scheduled to start in January 2019

Four former Barclays executives will stand trial on allegations they conspired to commit fraud over the bank’s 2008 fundraising with Qatar

Barclays-Qatar trial scheduled to start in January 2019
(Oli Scarff/Getty Images)

Four former Barclays executives will stand trial in January 2019 on allegations they conspired to commit fraud over the bank’s 2008 fundraising with Qatar, a London judge said.

The trial date was set at a hearing Monday where former CEO John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath all appeared at Southwark Crown Court. The men indicated earlier this month they would plead not guilty and were bailed by a lower court.

The most senior UK banking executives to face criminal charges since the financial crisis, the case has attracted a huge amount of media attention.

The Serious Fraud Office charges relate to $421 million in fees Barclays paid the Qatar Investment Authority and a $3 billion loan facility it made available to the nation as part of side deals to the £12 billion fundraising from the Qataris and others.

Barclays, Varley, and Jenkins each face two counts of conspiracy to commit fraud by false representation and one count of unlawful financial assistance between May and November 2008 in relation to the British lender’s June and October fundraising efforts. Boath and Kalaris each face one fraud count between May and August over the June capital raising.

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