Barclays chiefs charged over £12bn credit crunch fraud
THE ex-boss of Barclays has been charged with fraud in the first criminal action against top bankers over 2008’s crash.
John Varley, chief executive until 2011, is among four former bank executives accused over a deal to raise £12billion from Qatar.
Varley, 61, Roger Jenkins, 61, Thomas Kalaris, 61, Richard Boath, 58, and Barclays bank are accused by the Serious Fraud Office of conspiracy to commit fraud over a loan to Qatar in November, 2008.
Financial crime expert Sarah Wallace said: “It’s the most significant SFO charging decision in recent times, if not ever.”
The Qatar cash meant Barclays avoided taxpayer bail-outs given to Royal Bank of Scotland and Lloyds. The defendants are due to appear at Westminster magistrates court on July 3.
Barclays said it was “considering its position”. A lawyer for Jenkins said he would “vigorously defend” himself. Boath said he had no case to answer.