Barclays execs given two years to prepare for trial

Bruno Cirelli
Luglio 17, 2017

John Varley, the former chief executive of the United Kingdom bank; Roger Jenkins, former executive chairman of investment banking and investment management in the Middle East and North Africa; Thomas Kalaris, who led Barclays Wealth and Investment Management; and Richard Boath, former European head of Barclays' financial institutions group, appeared for a hearing at Southwark Crown Court today.

The bank itself faces the same charge while Barclays, Varley and Jenkins also face a charge relating to fundraising in October 2008 and are accused too of providing unlawful financial assistance.

The charges follow a five-year investigation in relation to the bank's fundraising.

The charges relate to two fundraisings in 2008, totalling almost £12bn, which included investments from Qatar Holding and Challenger Universal. Barclays and the four men have been charged with failing to disclose payments made to the investors in 2008. Boath and Kalaris each face one fraud count between May and August over the June capital raising.

Varley was chief executive of Barclays between 2004 and 2011.

Judge Mr Justice Edis set a date for the trial, which is expected to last up to four months, of January 9 2019.

Jenkins left Barclays in 2009 and was famously once paid £40 million in a single year by the bank.

Varley, of Pembridge Villas, London, Notting Hill, Jenkins, of Villa Costera, Malibu, California, Kalaris, of Thurloe Square, South Kensington, Boath, of Park Corner Cottage, Henley-On-Thames, Oxfordshire, and Barclays, based at One Churchill Place, Canary Wharf, are due back in court for further hearings early next year. Kalaris ran the bank's wealth management arm.

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