Banking & Finance
Ex-Barclays Executives Face New Charges in 2008 Qatar Fraud Case

(Bloomberg) — U.K. prosecutors added to the fraud indictment of three former Barclays executives who are to go on trial in connection with the bank’s fundraising from Qatar at the height of the 2008 financial crisis.
The Serious Fraud Office 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.
Former Middle East head Roger Jenkins now faces four charges, while ex-wealth boss Tom Kalaris and Richard Boath, the former European head of Barclays’s Financial Institutions division, each face two charges.
All three deny wrongdoing. A trial is scheduled for October.
Read: Abraaj Fined Record $315 Million by Dubai Financial Services Authority
The charges relate to a period when the bank was attempting to avoid nationalization, a fate imposed on two competitors as the financial crisis tore into balance sheets more than a decade ago.
Faced with narrowing capital reserves, Barclays executives turned to Qatar for 4 billion pounds ($4.9 billion) of bank-saving investments — part of more than 11 billion pounds in cash injections that year.
The SFO alleges that Barclays paid Qatar hundreds of millions of pounds as a sweetener to secure the investments and dismisses the bank’s claim that the payment was to cover services that Qatar was delivering.
If convicted, the men could face up to 10 years in jail.
-
News2 months ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Energy2 months ago
SOHAR Port and Freezone Signs MoU to Develop Natural Hydrogen Value Chain in Oman
-
OER Magazines3 weeks ago
Dossier – ToP 25 Personalities 2025
-
Banking & Finance2 months ago
Strong Performance and Strategic Approach: ahlibank announces Its Financial Results for the First Half of 2025
-
Economy2 months ago
Najla Zuhair Al Jamali Appointed President of bp Oman
-
News1 month ago
Ooredoo Wins Silver Stevie® Award for Diversity and Inclusion Excellence
-
Dossier3 weeks ago
Arabic Dossier – ToP 25 Personalities 2025
-
News1 month ago
xAI Open-Sources Grok 2.5, Signaling Accelerated AI Push
You must be logged in to post a comment Login