logo-loader
viewBarclays PLC

Former top Barclays executives cleared of fraud charges

The allegations were linked to funds the bank raised from Qatar during the financial crisis in 2008

Barclays PLC -

Three former executives at Barclays PLC (LON:BARC) have been acquitted of fraud charges related to funds coming from Qatar during the 2008 financial crisis.

The Serious Fraud Office had been investigating whether the bank had given Qatar secret fees so it could survive without being nationalised like some of its competitors.

READ: Timeline: Barclays CEO Jes Staley

Roger Jenkins, Tom Kalaris, and Richard Boath were found not guilty after seven years of investigations.

The defendants argued the fundraise did not consist in fraud and, if it did, it was not their responsibility.

This is because the three individuals were not at the very top of the FTSE 100’s bank hierarchy and would have not signed off the final papers.

The once chief executive John Varley was cleared last June.

Shares dropped 4% to 148.32p on Friday afternoon.

Quick facts: Barclays PLC

Price: 94.11 GBX

LSE:BARC
Market: LSE
Market Cap: £16.31 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Enthusiasm of Belvoir Group franchisees during crisis has been incredible...

Dorian Gonsalves, chief executive of Belvoir Group PLC, says the company’s franchisees will be ready to go straight out and start letting again as soon as the lockdown is lifted. Belvoir is actively transacting business on all sides except estate agency, where transactions have all but...

10 hours, 53 minutes ago

RNS

Form 8.3 - Abbvie Inc - Amendment

9 hours, 37 minutes ago

Form 8.3 - ALLERGAN PLC - AMENDMENT

9 hours, 38 minutes ago

Form 8.3 - Allergan plc - Amendment

9 hours, 39 minutes ago

Form 8.3 - Abbvie Inc

15 hours, 26 minutes ago

Form 8.3 - Allergan plc

15 hours, 27 minutes ago

Form 8.5 (EPT/NON-RI) - HUNTSWORTH PLC

16 hours, 41 minutes ago

Form 8.3 - ABBVIE AMENDMENT

1 day, 9 hours ago

2 min read