Three former Barclays executives face a high-profile criminal trial over how the British bank secured billions of pounds from Qatari investors and averted a taxpayer-funded bailout during the global financial crises in 2008
FILE PHOTO: Former Barclays' banker Roger Jenkins arrives at Southwark Crown Court in London, Britain, on January 23, 2019.
Roger Jenkins, a former chairman of investment banking in the Middle East; Tom Kalaris, who headed the wealth division at the time; and Richard Boath, who led the European corporate finance business, are charged with fraud offences in a trial scheduled to begin next week and last up to five months.
But the ambitious, seven-year case, for which the investigator and prosecutor have received millions of pounds in extra government funding, has proved tricky. It hinges on what the bank told the market in public documents, such as the prospectuses and subscription agreements that outlined the fees and commissions that Barclays paid to investors, including former Qatari prime minister Sheikh Hamad bin Jassim bin Jabr al-Thani.
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