Barclays-Qatar Trial Scheduled for January 2019 by London Judge

  • Varley, Jenkins, Kalaris and Boath appear at court hearing
  • Charges related to Barclays’ 12 billion-pound fundraising

Four Former Barclays Executives Appear in Court

Four former Barclays Plc 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 Chief Executive Officer 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.

Boath, Varley, Jenkins and Kalaris

Photographer: Chris Ratcliffe/Bloomberg

The most senior U.K. 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 322 million pounds ($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-pound 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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