Barclays and four top bankers charged over side deals during financial crisis

Updated: 

Barclays and four former top bankers are due to appear in court over side deals struck during emergency fundraising at the height of the financial crisis.

The bank, ex-chief executive John Varley, 61, Roger Jenkins, 61, Thomas Kalaris, 61, and Richard Boath, 58, have all been charged with conspiracy to commit fraud over a June 2008 fundraising.

Barclays, Varley and Jenkins face the same charge relating to a second fundraising in October 2008, while they have also been charged with providing unlawful financial assistance.

The defendants and a bank representative are due to appear at Westminster Magistrates' Court on Monday.

Varley, who was chief executive between 2004 and 2011, headed the bank at the time of the fundraising, while Jenkins is also said to have played a key role in orchestrating the deal.

Kalaris used to lead the bank's wealth and investment management division, while Boath was the former European head of financial institutions group at Barclays.

The Serious Fraud Office said the charges relate to the bank's emergency fundraising from Qatari investors as the group sought to avoid a government bailout amid the banking sector meltdown.