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Ex-Barclays execs face new charges in case over 2008 cash call

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Ex-Barclays execs face new charges in case over 2008 cash call

The U.K. Serious Fraud Office added charges of actual fraud to the indictment brought against three former Barclays PLC executives over the bank's controversial capital raising at the height of the global financial crisis, Bloomberg News reported.

This indictment is in addition to the existing counts of conspiracy to defraud, the report noted.

Roger Jenkins, former head of the bank's Middle Eastern business, is now facing four charges, while Thomas Kalaris, former wealth management head, and Richard Boath, former European financial institutions group head, face two charges each. The trio pleaded not guilty to the accusations.

A criminal trial is slated to begin in October, and the defendants could face up to 10 years in prison if convicted, according to the Aug. 8 report.

The case centers around Barclays' two cash calls in 2008 involving Qatari investors as it sought to avert a government bailout. Former Barclays CEO John Varley, who was also accused by the SFO in the case, was acquitted at an earlier trial after a court found that there was not enough evidence to hold him accountable.