Four former executives at Barclays bank have appeared in court charged with fraud relating to the way money was raised from Qatar during the financial crisis.

The Serious Fraud Office charged Barclays bank as well as former chief executive John Varley and former executives Richard Boath, Roger Jenkins and Thomas Kalaris with conspiracy to commit fraud by false representation in relation to fundraising during June 2008.

Mr Varley, Mr Jenkins and the bank also face charges of conspiracy to commit fraud by false representation over fundraising in October 2008, and a charge of providing unlawful financial assistance through a loan.

According to the BBC, the charges mark the first time any UK bank or its former top executives have appeared in a criminal court to face charges about their actions during the financial crash.

The charges follow a five-year investigation by police into the £11.8billion emergency fundraising conducted by the bank in 2008.

The four defendants appeared at Westminster Magistrates’ Court for a preliminary hearing on Monday, July 3.

They were bailed until the next hearing at Southwark Crown Court on Monday, July 17, when the men and Barclays PLC are expected to enter a plea.

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