Barclays, former bosses, charged over 2008 Qatar fundraising
This record print taken on Mar 24, 2009 shows John Varley, former Chief Executive of Barclays, withdrawal 10 Downing Street in executive London. Britain’s Serious Fraud Office pronounced on Jun 20, 2017, it had charged Barclays bank and 4 former managers, including former arch executive John Varley, with “conspiracy to dedicate fraud” related to puncture fundraising from Qatar during a financial crisis
PHOTO: AFP
LONDON: Barclays and four former comparison executives have been criminally charged in a high-profile UK review into undisclosed payments to Qatari investors during a 12 billion bruise ($15.4 billion) puncture account lifting in 2008.
In a rarely expected announcement, a Serious Fraud Office (SFO) pronounced on Tuesday it was charging a bank with conspiracy to dedicate rascal by fake illustration and unlawful financial assistance. Barclays pronounced it was deliberation a position over the charges and awaited serve information.
Illegal Activity: FIA arrests 3 for fraud
It also charged Barclays’ former comparison executives John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath. The fundraising in 2008 enclosed a $3 billion loan trickery done to the rich Gulf state in Nov 2008, a SFO said.
Former arch executive Varley, Jenkins, a former senior investment banker, Kalaris, a former CEO of Barclays’ wealth division and Boath, ex European conduct of financial institutions, have been charged with swindling to dedicate rascal by false representation during a Jun 2008 collateral raising. Varley and Jenkins have also been charged with swindling to commit rascal by fake illustration in propinquity to a October 2008 collateral raising.
Looted monies recovered: Victims of rascal get behind Rs339.29m
Varley and Jenkins also face a assign of wrong financial assistance, a SFO said. The group are a many comparison bankers in Britain to date to be accused by prosecutors of purported crimes during a financial crisis, that brought a tellurian financial complement to a knees
and plunged most of a universe into recession.
Jenkins will energetically urge himself against rapist charges his warn said. “As one competence design in a severe resources of 2008, Mr Jenkins sought and perceived both inner and external legal recommendation on any and each subject lonesome by a SFO’s accusations today,” Brad Kaufman, long-time warn for Jenkins at US law organisation Greenberg Traurig, told Reuters.
Article source: https://tribune.com.pk/story/1440292/barclays-former-bosses-charged-2008-qatar-fundraising/