John Varley, the former chief executive of Barclays, will be among three former bankers to appear at Westminster magistrates court on Monday to face charges of fraud for events that took place at the height of the financial crisis.
Varley is scheduled to appear along with Roger Jenkins, Tom Kalaris and Richard Boath following the announcement by the Serious Fraud Office last month that they were to be prosecuted over the way Barclays raised billions of pounds from Qatar in 2008.
They are the first senior bankers to face criminal charges for events dating back to the banking crisis almost a decade ago, when Barclays avoided a taxpayer bailout by raising £11.8bn in emergency funds from a number of major investors, including Qatar. The four are charged alongside Barclays itself.
The charges relate to the two fundraisings Barclays embarked on in June and October 2008 with two investment vehicles related to Qatar, including one used by the prime minister at the time, Sheikh Hamad bin Jassim bin Jaber al-Thani, and a $3bn (£2.3bn) loan advanced to Qatar in November 2008.
The four individuals and the bank are charged with conspiracy to commit fraud by false representation in relation to a fundraising in June 2008. Varley, Jenkins and the bank are also charged with conspiracy to commit fraud by false representation in relation to the fundraising that took place in October 2008. Varley, Jenkins and the bank face a further charge of providing unlawful financial assistance through the loan.
Jenkins and Boath both said they would contest the charges; there has not been any comment from Varley and Kalaris. Barclays has said it is considering its position.
