Barclays, Four Former Top Executives Charged With Fraud Over Fundraising With Qatari Investors

Peace and Freedom

Criminal charges from U.K.’s Serious Fraud Office relate to crisis-era investments

Barclays said it was considering its position in relation to the announcement.
Barclays said it was considering its position in relation to the announcement.PHOTO: NEIL HALL/REUTERS

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Updated June 20, 2017 4:22 a.m. ET

The U.K.’s Serious Fraud Office on Tuesday filed criminal charges against Barclays PLC and four former top executives linked to their handling of Middle Eastern investments that rescued the bank at the height of the financial crisis.

The case marks the first time that top executives at a U.K. bank face criminal charges for their actions during the financial crisis. If Barclays is found guilty it faces a fine but wouldn’t lose its banking license.

The SFO charged the individuals and the bank with conspiracy to commit fraud. Two individuals, including its former Chief Executive John Varley, were also charged with the provision of unlawful financial…

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