Senior Barclays Executives acquitted on

fraud charges

Three former Senior Executives in Barclays Bank have been acquitted of fraud charges at the Old Bailey in London following a seven year case after a five-month Trial.

The three men Roger Jenkins, Thomas Klaris and Richard Boath were charged with conspiracy to commit fraud in connection with fundraising arrangements by Barclays Bank during the financial crisis in 2008 when the Bank raised billions of pounds from Qatar in order to stay in business.

Last year the former Chief Executive of Barclays Bank, John Varley was acquitted arising from the same set of circumstances. The serious fraud Office (SFO) had previously failed in respect of charges brought against the Bank itself.

After the acquittal the SFO was the subject of criticism from the Defendants’ lawyers in relation to the manner in which the prosecution was conducted particularly as Mr. Boath had previously been acquitted by the Financial Conduct Authority.

Previously the Director of the SFO had said that the onus of proof in fraud cases was too high and made prosecution of cases such as this very difficult.

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This document is for information purposes only and does not purport to represent legal advice.  
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