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Ex-Barclays chiefs brace for London court date over Qatar dealings

Funds on targetA London court date has been set as former Barclays chief executive John Varley and a trio of ex-colleagues gear up for a landmark trial over the bankers’ financial crisis dealings.

Reuters reports that the senior bankers’ trial will start on Monday over charges surrounding cash injection deals with Qatari investors that helped the bank survive the 2008 recession.

The news agency reports that the trial is scheduled to run up to June.

Conspiracy to commit fraud charges have been levied against Varley, as well as former wealth division chief executive Tom Kalaris, former European divisial head Richard Boath and ex-Middle East chairman Roger Jenkins.

The Serious Fraud Office’s allegations concern “capital raising arrangements” in June and October 2008 with Qatar Investment Authority entity Qatar Holding and ex-prime minister Sheikh Hamad bin Jassim bin Jabr al-Thani’s investment vehicle Challenger.

They also reference a Barclays loan facility worth $3bn (£2.4bn) made available to Qatar in November 2008, Reuters says.

Separate charges of unlawful financial assistance have also been reportedly filed against Varley and Jenkins.



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