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Ex-Barclays bankers appear in court


Four ex-Barclays bankers, including the former chief executive John Varley, have appeared in court charged with fraud.The Serious Fraud Office case relates to the way Barclays raised billions of pounds from Qatari investors during the 2008 financial crisis.Apart from Mr Varley the other three are former executives Roger Jenkins, Thomas Kalaris and Richard Boath. All were bailed to appear at the next hearing on 17 July.That will take place at Southwark Crown Court, where the accused, along with their former employer Barclays PLC, are expected to enter a plea.All four were appearing at a preliminary hearing at Westminster magistrates court.The charges mark the first time that any UK bank or its former top executives have appeared in a criminal court to face charges relating to the way they behaved during the financial crash.

The senior district judge, Emma Arbuthnot, told Mr Jenkins, aged 61, and Mr Kalaris, also aged 61, to pay bail of £500,000 each, as Mr Jenkins lives in the US and Mr Kalaris has dual nationality.Mr Varley, aged 61, and Mr Boath, aged 58, were given unconditional bail.The BBC understands that the four former executives all intend to plead not guilty at the next hearing.
Source: BBC