Barclays bank and former boss charged with conspiracy to commit fraud

Barclays. Picture by PA

Barclays. Picture by PA

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Barclays and four individuals, including former boss John Varley, have been charged with conspiracy to commit fraud relating to the bank's emergency fundraising during the financial crisis.

The Serious Fraud Office (SFO) said it had brought the charges against the bank itself as well as ex-chief executive Mr Varley, 61, Roger Jenkins, also 61, who is the former executive chairman of Investment Banking and Investment Management in the Middle East and North Africa for Barclays Capital, as well as two former senior executives, Thomas Kalaris, 61, and Richard Boath, 58.

The SFO has also charged Barclays plc, Mr Varley and Mr Jenkins with the provision of unlawful financial assistance.

It said the charges relate to the bank's fundraising in 2008, which saw Barclays raise emergency capital from Qatari investors as the financial crisis sent the sector into meltdown.