Home Business NewsBusiness Barclays and former senior executives trial date set for January 2019

Barclays and former senior executives trial date set for January 2019

by LLB Reporter
17th Jul 17 3:57 pm

Here’s the latest

Barclays and four senior executives will face trial in January 2019 for criminal charges relating to way the bank raised billions of pounds during the 2008 financial crisis from Qatari investors.

Former chief executive John Varley, and executives Thomas Kalaris, Roger Jenkins and Richard Boath, who face a charge of conspiracy to commit fraud by false representation, were all present at Southwark Crown Court as Judge Andrew Edis set the date for trial.

The bank, Varley and Jenkins also face one charge of unlawful financial assistance.

Last month the Serious Fraud Office charged Barclays PLC and the former senior executives after a five-year long investigation into the emergency fundraising conducted by the bank in 2008.

If convicted the former executives could be facing lengthy jail terms as these offences can carry a maximum prison sentence of 10 years and a fine for the bank.

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