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Home Business Barclays, former bosses to face fraud trial

Barclays, former bosses to face fraud trial

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British bank Barclays and four of its former bosses will face trial in 2019 on allegations over an emergency fundraising from Qatar during the global financial crisis, a court announced Monday.

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.

Boath, 58,  along with Jenkins, Kalaris and Varley, all 61, appeared at Southwark Crown Court on Monday.

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

The trial will start on January 9, 2019, and proceedings could last up to four months.

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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