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. The investigation also centred on a US$3 billion loan facility made available from Barclays to the State of Qatar acting through the Ministry of Economy and Finance in November 2008.
Barclays PLC and four individuals were charged on 20 June 2017 with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the Companies Act 1985.
On 12 February, Barclays Bank Plc was also charged with unlawful financial assistance contrary to s151(1) and (3) of the Companies Act 1985.
On 21 May 2018 the charges against Barclays Plc and Barclays Bank Plc were dismissed by the Crown Court.
The SFO confirms that on 23 July 2018 it 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.
Reporting Restrictions are in place and the Strict liability rule of the Contempt of Court Act applies.
- John Varley – former Chief Executive Officer of Barclays Plc.
- 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.
John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath
Conspiracy to commit fraud by false representation in relation to the June 2008 capital raising, contrary to s1 and s2 of the Fraud Act 2006 and s1(1) of the Criminal Law Act 1977.
John Varley and Roger Jenkins
Conspiracy to commit fraud by false representation in relation to the October 2008 capital raising, contrary to s1 and s2 of the Fraud Act 2006 and s1(1) of the Criminal Law Act 1977.
Page published on 11 Sep 2014 | Page modified on 4 Dec 2018