SFO charges in Barclays Qatar capital raising case

20 June, 2017 | https://www.sfo.gov.uk/2017/06/20/sfo-charges-in-barclays-qatar-capital-raising-case/

The Serious Fraud Office has today charged Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the Companies Act 1985.

The charges relate to Barclays Plc’s capital raising arrangements with Qatar Holding LLC and Challenger Universal Ltd, which took place in June and October 2008, and a US$3 billion loan facility made available to the State of Qatar acting through the Ministry of Economy and Finance in November 2008.

The SFO has brought the following charges:
•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 – Barclays Plc, John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath.
•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     – Barclays Plc, John Varley and Roger Jenkins.
•Unlawful financial assistance contrary to s151 of the Companies Act 1985 – Barclays Plc, John Varley and Roger Jenkins.

The defendants will appear before Westminster Magistrates’ Court at 14.00 on 3 July 2017.

Notes to editors:
1.The SFO announced the opening of its investigation in August 2012

2.John Silvester Varley (61), British, of London is the former Chief Executive Officer of Barclays Plc.

Roger Allan Jenkins (61), British, of Malibu, California, is the former Executive Chairman of Investment Banking and Investment Management in the Middle East and North Africa, Barclays Capital.

Thomas Llewellyn Kalaris (61), American, of London, is the former Chief Executive of Barclays Wealth and Investment Management (a division of Barclays Plc).

Richard William Boath (58), British, of London, is the former European Head of Financial Institutions Group.

3.The strict liability rule in the Contempt of Court Act 1981 applies.

Related Cases

https://www.sfo.gov.uk/cases/barclays-qatar-holding