![]() ![]() ![]() Qatar had demanded higher fees to invest in the struggling bank. The Serious Fraud Office alleges then CEO John Varley and the three other defendants, Richard Boath, Thomas Kalaris, and Roger Jenkins misled investors in fundraisings during the financial crisis by paying the Qataris £322 million in secret fees that were not properly disclosed. Richard Boath, then the European head of Barclays' financial institutions group, said the bank would be "dead without it" in an email in late May 2008, according to prosecutors. The bank would have been in a difficult position without Qatar's investment. The court heard details of the negotiations between Barclays executives and Qatari investors.
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