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Fraud charges: Ex-Barclays CEO appears in court
Accused over fraud charges, former Barclays chief executive John Varley appeared in a London court on Monday. It is the first time a boss of a global bank has faced charges arising from the 2008 financial crisis.
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London: Accused over fraud charges, former Barclays chief executive John Varley appeared in a London court on Monday. It is the first time a boss of a global bank has faced charges arising from the 2008 financial crisis.
Britain's Serious Fraud Office last month charged Barclays bank and four former managers, including Varley, with "conspiracy to commit fraud" linked to emergency fundraising from Qatar during the global financial crisis.
All four appeared at Westminster Magistrates' Court today, speaking only to confirm their names and addresses.
The SFO charged Varley with two counts of fraud by false representation over two emergency loans, when Qatar invested ?6.1 billion ($7.9 billion, 6.9 billion euros) that prevented the bank from being bailed out by the British government.
With AFP Inputs
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