Ex-Barclays CEO Will Give Evidence In £1B Civil Fraud Suit
Law360, London (March 12, 2020, 8:10 PM GMT) -- Two former Barclays executives who were acquitted of fraud charges over its emergency fundraising during the financial crisis will be cross-examined as part of a private equity firm’s English lawsuit seeking £1 billion ($1.3 billion) from the bank over similar accusations.
PCP Capital Partners, which is led by British private equity magnate Amanda Staveley, is suing Barclays over allegations that the bank dishonestly misled the firm while raising billions of dollars from investors during the 2008 financial crisis.
Ex-chief executive John Varley and Roger Jenkins, who was Barclays’ former head of Middle East investment, will give evidence along with a dozen...
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