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Ex-Barclays bankers appear in court

Former Barclays chief executive John Varley arrives at Westminster Magistrates" Court where he and three ex colleagues, Roger Jenkins, Thomas Kalaris and Richard Boath face charges over side deals struck during emergency fundraising at the height of the financial crisis. Image copyright PA
Image caption Former Barclays chief executive John Varley arrives at Westminster Magistrates 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.

Image copyright AFP
Image caption Former Barclays senior executive, Roger Jenkins, arrives at Westminster Magistrates Court

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.

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