Apr 8, 2019

Jury discharged in Barclays executives fraud case

The jury has been discharged in the trial of four senior Barclays executives facing fraud charges over alleged payments to Qatar at the height of the 2008 financial crisis. The prosecution has been brought by the Serious Fraud Office over the bank's arrangements with Qatar in 2008 at the height of the financial crisis. As well as Mr Varley, the defendants are all former senior Barclays executives. Tom Kalaris, who was a trusted lieutenant in Barclays' investment-banking unit, and Richard Boath, a senior banker face one fraud count. The case turns on what the bankers told the market when Barclays twice turned to Middle Eastern investors in 2008 as part of £11.8bn-worth of emergency cash calls at the height of the financial crisis.

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