Barclays PLC and Qatar Holding LLC
The SFO has been conducting a criminal investigation into Barclays and its capital raising arrangements with Qatar Holding LLC and Challenger Universal Ltd in June and October 2008.
Criminal proceedings against Barclays PLC and four individuals were initiated on 3 July 2017, when they appeared before Westminster Magistrates’ Court. They were charged with conspiracy to commit fraud by false representation and unlawful financial assistance contrary to s151 of the Companies Act 1985.
On 14 February, criminal proceedings were initiated against Barclays Bank Plc, which was also charged with unlawful financial assistance contrary to s151 of the Companies Act 1985.
On 21 May 2018 the charges against Barclays Plc and Barclays Bank Plc were dismissed by the Crown Court.
On 23 July 2018, the SFO made an application to the High Court to re-instate against Barclays PLC and Barclays Bank PLC all of the charges dismissed by the Crown Court in May 2018.
On 26 October 2018, the High Court ruled against the SFO’s application seeking to reinstate the charges previously dismissed in the Crown Court.
On 23 January 2019, the trial of John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath began at Southwark Crown Court.
On 8 April 2019, the jury was discharged by the presiding Judge.
Following an application on behalf of John Varley at the close of the prosecution case, the trial Judge ruled that the evidence against him on each count was insufficient for the case to proceed. That ruling was appealed by the prosecution.
On 21 June 2019 that appeal was dismissed by the Court of Appeal. Accordingly, Mr Varley has been acquitted on both counts.
The trial of Mr Jenkins, Mr Kalaris and Mr Boath began on 8 October at the Central Criminal Court (Old Bailey).
Reporting Restrictions are in place and the strict liability rule of the Contempt of Court Act applies.
- Roger Jenkins – former Executive Chairman of Investment Banking and Investment Management in the Middle East and North Africa, Barclays Capital.
- Thomas Kalaris – former Chief Executive of Barclays Wealth and Investment Management (a division of Barclays Plc).
- Richard Boath – former European Head of Financial Institutions Group, Barclays Capital.
Roger Jenkins, Thomas Kalaris and Richard Boath
Conspiracy to commit fraud by false representation, contrary to section 1(1) of the Criminal Law Act 1977, in relation to the June 2008 capital raising,
Fraud by false representation, contrary to section 1 of the Fraud Act 2006, in relation to the June 2008 capital raising.
Conspiracy to commit fraud by false representation, contrary to section 1(1) of the Criminal Law Act 1977, in relation to the October 2008 capital raising.
Fraud by false representation, contrary to section 1 of the Fraud Act 2006, in relation to the October 2008 capital raising.
Page published on 11 Sep 2014 | Page modified on 14 Oct 2019