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London Trial Of Ex-Barclays Execs Over Qatari Funds Starts

Law360, London (January 7, 2019, 4:34 PM GMT) -- The long-awaited criminal trial of four former Barclays PLC directors began on Monday over charges connected to a £12 billion ($15.3 billion) rescue package that the bank secured from investors including Qatar at the height of the financial crisis.

John Varley, former chief executive at Barclays, and three fellow ex-senior executives at the lender are charged with conspiracy to commit fraud over a £2.3 billion loan the bank provided to the Gulf state in 2008 in a plan to raise share capital. The prosecution is brought by the Serious Fraud Office.

The defendants did not appear at the opening day of the...

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