The Salvation of Barclays Comes Back to Haunt It

During the depths of the financial crisis, Barclays Plc raised 12 billion pounds ($15 billion) -- about half from Qatar -- to avoid a collapse like Lehman Brothers or a bailout like Royal Bank of Scotland. It retained its independence, but a succession of investigations into misbehavior dating to those years has since bedeviled five chief executive officers.

Now the latest for CEO Jes Staley: Criminal charges stemming from the 2008 capital raisings against former chief John Varley and three other senior managers. They, along with the company, stand accused by the U.K.’s Serious Fraud Office of conspiracy to commit fraud and unlawful financial assistance. The claims relate to 322 million pounds in undisclosed fees Barclays paid to the Qatar Investment Authority and a $3 billion loan facility it made available to the nation at the time.