Four former Barclays executives, including ex-CEO John Varley, have become the first British bankers to face criminal charges over fraud during the global financial crisis.
The charges brought forward by the Serious Fraud Office (SFO) relate to Barclays' capital raising arrangements with Qatar Holding and Challenger Universal, which took place in June and October 2008 and enabled the bank to avoid bailout during the difficult period. The bank then managed to facilitate a $3bn loan which was made available to the State of Qatar through the Ministry of Economy and Finance in November 2008. US Department of Justice sues Barclays over alleged 2008 MBS fraud The four men charged are Varley; Roger Jenkins, ex-CEO of Barclays Capital's Private Equity Group; ...
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