British banking group Barclays and its four former executives have been charged with conspiracy to commit fraud over capital raising from Qatari investors in 2008.

The charges relate to two capital raisings with Qatar Holding and Challenger Universal between June and October 2008, as well as a $3bn loan made available to Qatar through the economy and finance ministry in November 2008.

The executives being charged include ex-Barclays CEO John Silvester Varley; former Barclays Capital executive chairman of investment banking and investment management in the Middle East and North Africa Roger Allan Jenkins; former Barclays Wealth and Investment Management CEO Thomas Llewellyn Kalaris, and former European head of financial institutions Richard William Boath.

All the four employees along with the bank have been accused of making representation related to the June 2008 capital raising.

In addition, Barclays, Varley and Jenkins have been charged with fraud in relation to the October capital raising and for unlawful financial assistance.

Barclays issued a statement saying that it is “considering its position in relation to these developments” and that it “awaits further details of the Charges from the SFO”.

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By GlobalData