Barclays execs given two years to prepare for trial

Barclays and former executives set for January trial over Qatar fundraising charges

Barclays and former executives set for January trial over Qatar fundraising charges

The outcome of the criminal trial of Barclays and four former executives is unlikely to be known until mid-2019, after a judge set the start date in a London court for January 2019 and said the trial was expected to last for four months.

The Serious Fraud Office (SFO) last month charged Barclays Plc, John Varley, Roger Jenkins, Tom Kalaris and Richard Boath with conspiracy to commit fraud by false representation when they negotiated a capital injection for the bank from Qatar.

They are the first senior bankers to face criminal charges in relation to events dating back to the banking crisis nearly a decade ago, when Barclays raised £11.8bn in emergency funds from a number of big investors, including Qatar.

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Three overs later, captain Stafanie Taylor chose not to review a questionable lbw decision and perished without scoring. Opener Hayley Mathews (29 from 64 balls) and Chedean Nation (23 from 57) were the main contributor for West Indies .

Barclays raised about £12bn in two emergency fundraising in June and October 2008, mainly from Qatar investors, to avoid a government bailout during the height of the financial crisis.

Boath, of Henley-On-Thames, Oxfordshire, Jenkins, of Malibu, California, Kalaris, of Thurloe Square, Kensington, west London, and Varley, of Pembridge Villas, Notting Hill, west London, appeared at Southwark Crown Court on Monday.

Varley, Jenkins, Kalaris, all 61, and Boath, 58, are charged with one count of fraud by false representation, between 1 May 2008 and 31 August 2008.

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None of the defendants were arraigned today (mon) and will not be asked to enter their pleas until sometime next year. Kalaris ran the bank's wealth management arm.

Boath is the former head of the bank's European financial institutions group.

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