Former Barclays executives acquitted of conspiracy to commit fraud
Roger Jenkins,
Richard Boath and
Thomas Kalaris
were today acquitted of fraud in the UK’s first trial of bank executives for misconduct during the 2008 Financial Crisis.
The three men were charged with conspiracy to commit fraud in relation to allegedly misleading investors and the markets over capital raising arrangements agreed with Qatar Holding LLC and Challenger Universal Ltd in June and October 2008.
A spokesperson said:
Charges against Barclays Plc and Barclays Bank Plc in relation to the 2008 capital raisings were dismissed by the Crown Court in May 2018.
The High Court rejected the SFO’s application to re-instate them in October later that year and also refused permission to appeal to the Supreme Court.
John Varley, former CEO of Barclays, was also charged in relation to these activities. The case against him was dismissed in April 2019.
Chris Lucas, the Chief Finance Officer of Barclays at the time of this conduct, was named as a co-conspirator on the indictment against these individuals.
But for ill-health, he would have been charged and tried.
Serious Fraud Office