Barclays four in limbo as SFO mulls criminal charges

FOUR former Barclays bosses at the centre of a Serious Fraud Office probe face a nervous night ahead while they wait to see if they are going to face criminal charges.

The four — John Varley, Roger Jenkins, Chris Lucas and Bob Diamond (pictured) — masterminded a rescue package for Barclays at the height of the financial crisis in 2008.

Barclays managed to avoid a rescue from the UK government thanks to money raised by Qatar.

The SFO is expected to say tomorrow whether it intends to bring criminal charges over that fund raising, against individuals or the bank itself. At issue are the fees — £332 million — that Barclays paid to secure the funds and whether these fees were in effect bribes.

If criminal charges are filed, they would be the first against individual bankers related to the financial crisis.

Barclays revealed in 2012 that it was being investigated by the City watchdog over the Qatar issue. The Financial Conduct Authority later said it would fine the bank £50 million for reckless behaviour.

That fine is on hold while the SFO case continues. The SFO is said to have questioned 44 individuals as it sought to build a case.

Neither side would comment today.