John Varley

Three former top Barclays executives are connected by at court on Monday for fraud, as The Bank billions of pounds raised from Qatar in 2008.

The Serious Fraud Office (SFO) case centers on alleged secret payments to Qatar in exchange for cash, which helped The Bank in the financial crisis.

Roger Jenkins , Tom Kalaris, and Richard Eid all deny wrongdoing.

the Former Barclays chief executive John Varley , her co-defendant in a previous trial, was acquitted in June.

The SFO is a criminal case against The Bank itself, which were also dismissed by a court last year. Mr Varley and Barclays each had denied wrongdoing.

Mr Jenkins, 64, was The Chairman of the Investment Banking in the Middle East , while Mr Kalaris, 63, under the management of the wealth division, and Mr Eid, 60, led the European Corporate Finance arm.

The Trio are each charged with conspiracy to commit fraud by false representation and fraud by false representation.

The case centers, to raise to the claims of secret payments made to Qatar as part of a deal to More Than £11bn ($13. 6bn) of investors in two tranches in June and October 2008.

It is claimed that this multi-million-pound payments to the investors, including the then Prime Minister of The Gulf state, Sheikh Hamad bin Jassim bin Jabr al-Thani, were not the property open to the markets.

The Cash injection from Qatar helped Barclays to avoid a government bailout, the fate of High-Street rivals, including Royal Bank of Scotland.

The Defendants were charged in the year 2017, after the SFO spent years in the investigation of the allegations. The study is considered to be a high-stakes case for the SFO, which has been accused of, to keep track of otherwise, businesses and individuals about their role in the financial crisis.

The indictment of Mr Jenkins related to his participation in the June and October Qatar fundraising. The cases of two other men relate to the June-fundraising only.

Monday, the Old Bailey trial starts with jury selection, and the case is expected to take several months.

Source of news: bbc.com