Barclays PLC and four individuals were charged on 20 June 2017 with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the Companies Act 1985.
On 12 February, Barclays Bank Plc was also charged with unlawful financial assistance contrary to s151(1) and (3) of the Companies Act 1985.
On 21 May 2018 the charges against Barclays Plc and Barclays Bank Plc were dismissed by the Crown Court.
The SFO confirms that on 23 July 2018 it made an application to the High Court to re-instate against Barclays PLC and Barclays Bank PLC all of the charges dismissed by the Crown Court in May 2018.
On 26 October 2018, the High Court ruled against the SFO’s application, seeking to reinstate the charges previously dismissed in the Crown Court.
On 7 January 2019, the trial of John Varley, Roger Jenkins, Thomas Kalaris and Richard Boath began at Southwark Crown Court.
On 8 April 2019, the jury was discharged by the presiding Judge.
Following an application on behalf of John Varley at the close of the prosecution case, the trial Judge ruled that the evidence against him on each count was insufficient for the case to proceed. That ruling was appealed by the prosecution.
On 21 June 2019 that appeal was dismissed by the Court of Appeal. Accordingly, Mr Varley has been acquitted on both counts.
Mr Jenkins, Mr Kalaris and Mr Boath will be re-tried at a date to be determined.
Reporting Restrictions are in place and the strict liability rule of the Contempt of Court Act applies.
