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Former top Barclays bankers face court

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Four men who used to hold senior positions at Barclays Bank have appeared in court charged with fraud.

The four, including former chief executive John Varley, spoke only to confirm their names, ages and addresses.
Varley, along with former dealmaker Roger Jenkins, faces two counts of fraud and one count of being an officer in default of a company’s giving of unlawful financial assistance.
Two other men, Tom Kalaris and Richard Boath, face a single allegation of fraud.
None of the men work at Barclays any more.

Image: Richard Boath faces a charge of fraud
Varley and Kalaris provided home addresses in London, Boath said he lived in Henley-upon-Thames while Jenkins said he lived in Malibu, California.
The charges all relate to effort by the bank to raise billions of pounds of new capital during the financial crisis of 2008.
Barclays Bank is also facing multiple charges.

Image: Both Roger Jenkins (pictured) and Tom Kalaris had to lodge a security of £500,000 each
The men appeared at Westminster Magistrates’ Court, all wearing suits and ties. Both the press stand and also the public gallery were full.
They will next appear at Southwark Crown Court in two weeks’ time, on 17 July.
Although none of the men have yet entered a formal plea, representatives for Varley, Jenkins and Boath indicated their clients would be pleading not guilty.

Image: Tom Kalaris (pictured) and the other men will next appear at Southwark Crown Court
Kalaris’s QC said he had been “fully advised” while the legal team of the bank said Barclays was still considering its options.
Bail restrictions were set for Jenkins and Kalaris, with both having to lodge a security of £500,000 with the court.
Varley and Boath were released on unconditional bail.

Source: SKY News