London jury dismissed in landmark Barclays-Qatar case

Judge Robert Jay told the entire jury that their services are no longer required.

In a landmark case revolving around fraudulent transactions perpetuated by four former Barclays executives who had been accused of paying Qatar undisclosed fees to help rescue the bank at the height of the credit crisis in 2008, a London jury has been discharged from the trial.

Judge Robert Jay informed the jury at Southwark Crown Court that he was required to discharge them. No further details were disclosed due to continued reporting restrictions.

Barclays’ former chief executive John Varley, Roger Jenkins, Tom Kalaris and Richard Boath have denied conspiring to commit fraud by false representation when Barclays raised more than $14 billion (11 billion pounds) from investors in 2008, thus allowing the British bank to avoid a state bailout.

According to prosecutors, the bankers excluded and hid 322 million pounds in fees paid to the Qatari investors through advisory service agreements (ASAs) in public documents.

According to the defendants, they had relied on legal advice during a two-part emergency fundraising in June and October 2008.


Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: