Ex-Barclays CEO stands trial for fraud - reports

John Varley and three former colleagues could face ten years in jail

Ex-Barclays CEO John Varley and three of his former senior colleagues stand trial today (23 January), charged with defrauding the market during the Global Financial Crisis.

Varley and his former colleagues, including ex-head of Barclays' wealth and investment management unit Tom Kalaris, stand accused at Southwark Crown Court in front of Justice Robert Jay, where a jury will hear the opening arguments of the Serious Fraud Office. What lessons have been learnt over the decade since Lehmans collapsed? (Part II) According to the FT, the four men face criminal charges of fraud by false representation, with the SFO alleging that side deals were struck with Qatar that were not fully disclosed to the rest of the market during two 2008 capital calls that raised ...