The former boss of Barclays faces a maximum 22 year prison sentence after he and three other ex-directors of the lender became the first British bankers to face criminal charges for actions taken during the financial crisis.
Barclays was plunged into turmoil on Tuesday after the Serious Fraud Office charged the bank with fraud and unlawful financial assistance over its dealings with Qatari investors, including former prime minister Sheikh Hamad bin Jassim bin Jabr al-Thani, in 2008 when Britain’s banking system was on the verge of collapse.
The lender turned to the Qataris as well as other private investors for two huge cash calls in June and October 2008 that raised a total of £11.8bn in a desperate bid to avoid a bail-out.
However, the SFO has spent five years investigating side deals the bank struck with the Qataris alongside the fundraisings, in an extensive and high-profile probe that has
— source telegraph.co.uk | Ben Martin | 20 Jun 2017
Former Barclays chief John Varley cleared of fraud charges
