Barclays Execs Lied To Investors Over Qatar Fees, SFO Says
Law360, London (October 8, 2019, 4:24 PM BST) -- Three former Barclays executives lied to investors about millions of pounds in secret fees paid by the British bank to Qatar as the lender fought to avoid a government bailout during the financial crisis, prosecutors said Tuesday as they opened the landmark fraud retrial.
Roger Jenkins, 64, Barclays’ former Middle East head, ex-wealth boss Thomas Kalaris, 63, and Richard Boath, 60, who was the bank’s head of European financial institutions, defrauded investors by failing to disclose to the market £322 million ($392.3 million) in extra fees Barclays paid to Qatar, Serious Fraud Office prosecutors told the jury as the trial kicked...
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