Prosecutors add fraud charges to former Barclays executives accused in Qatar case

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Wed, 2019-08-14 23:49

LONDON:  Three former top Barclays executives due to stand
trial over the bank’s deals with Qatari investors during the
financial crisis are to face additional fraud charges.

Bloomberg reported that the UK’s Serious Fraud Office has
included charges of actual fraud to the existing counts of
conspiracy to defraud against the men, according to a copy of the
indictment released Thursday.

Roger Jenkins, the former Middle East chief, faces four charges.
Tom Kalaris, who led the bank’s wealth division, and Richard
Boath, the former head of Europe, will face two charges. 

The men, who will go on trial in October, all deny the
charges.

The charges stem from the 2008 financial crisis when Barclays
was looking for cash injections to avoid being nationalized.

The bank turned to Qatar for £4 billion of investments, but
the  Serious Fraud Office alleges that Barclays did not properly
disclose to the market £322 million worth of side deals with
Qatari investors.

These included Qatar’s then prime minister Sheikh Hamad bin
Jassim bin Jabr Al-Thani.

The man face up to 10 years in prison if convicted.

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Source: FS – All-News-Economy
Prosecutors add fraud charges to former Barclays executives accused in Qatar case