Former Barclays banker Richard Boath arrives at Southwark Crown Court in London on Jan. 23, 2019. (Reuters/Hannah McKay)
Former Barclays Bosses ‘Hid 322 Million Pounds,’ Court Told
January 28, 2019 Updated: January 28, 2019
LONDON—Four former Barclays executives conspired to commit fraud by hiding 322 million pounds of payments to Qatar in return for cash injections in 2008, a prosecutor alleged at one of London’s most high-profile criminal trials.
Former Chief Executive John Varley and three former directors are the most senior bankers to be prosecuted in Britain over events during the financial crisis, when Barclays avoided a state bailout by raising more than 11 billion pounds from mainly Gulf investors in two cash calls.
Opening the case for the Serious Fraud Office prosecutor, senior lawyer Edward Brown alleged that the bank’s Advisory Service Agreements (ASAs), through which Qatar was paid 322 million pounds (about $419.7 million) in 2008, were a “dishonest mechanism” to conceal extra fees from other investors and the wider market.
“It is the hiding of these additional commission fees which lies at the heart of this case,” he told the jury at London’s Southwark Crown Court, in a courtroom so packed that reporters had to request tickets to gain entry.
“[The ASAs] were devised by the conspirators as a mechanism for paying the Qataris greater fees than those paid to other investors so as not to reveal the true position,” Brown told the court, in a trial scheduled to last up to six months.
Varley, 62, in an open-necked shirt and sweater, listened in the glass-surrounded dock, flanked by Roger Jenkins, in a polo-neck sweater and jacket, Tom Kalaris, and Richard Boath, who both wore suits.
They are charged with conspiracy to commit fraud by false representation. Varley and Jenkins face two counts, and Kalaris and Boath face one; they all deny the charges.
Varley and Jenkins, the 63-year-old former head of Barclays’ Middle Eastern arm, are charged with two counts of conspiring dishonestly with former finance director Christopher Lucas to make misleading or untrue representations in documents published in relation to both the June and October capital raisings.
Kalaris, 63, who ran Barclays’ wealth-management business, and Boath, a 60-year-old former head of the corporate-finance division, face one count over the June 2008 cash call. Both charges allege the men were either seeking to profit or to cause or expose others to losses.
Lucas, who is suffering from ill health, hasn’t been charged.
The case hinges on what the bank disclosed in its public statements in 2008; the prospectuses for the capital raisings and subscription agreement documents published that June and October, which outlined fees and commissions paid to investors in return for backing the bank.
Prosecutors allege that Barclays thought it essential to secure a deal with Qatar in early 2008 as markets roiled, but that the Gulf state drove a hard bargain.
In a transcript, Boath said that the bank would be “basically dead” without a Qatari cash injection in 2008, a prosecutor said on Jan. 24.
Qatar initially demanded a fee of 3.75 percent, before settling on 3.25 percent in return for investing in the bank—more than double what Barclays was paying other investors, the prosecution alleged.
Unwilling to risk other investors demanding the same terms—or appearing financially unstable by being seen to pay too high a price—the executives played a part in false representations to the market, the prosecution alleged.
Brown said some defendants relied on the fact that lawyers had sanctioned the use of ASAs by signing off on them, as their defense in the case. But he alleged lawyers were told the ASAs were genuinely designed to represent services provided by Qatar and that they were separate from the Qatari investment in Barclays.
“The truth is that the lawyers did not approve of the use of the ASAs as mechanisms to hide the commission fees paid to the Qataris,” he said.
Qatar, which hasn’t been accused of wrongdoing, plowed around 4 billion pounds into Barclays in 2008, Brown said.
By Kirstin Ridley and Lawrence White
The Clinton Looting of the Poor of Haiti
Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses
Allegation: S-exual assault
Anonymous female student at Yale University (1972)
Anonymous female student at the University of Arkansas (1974)
Anonymous female lawyer (1977)
Juanita Broaddrick (1978)
R-ape
Carolyn Moffet (1979)
Elizabeth Ward (1983)
Sally Perdue (1983)
Paula Jones (1991)
Sandra Allen James (1991)
Christy Zercher (1992)
Kathleen Willey (1993)
Monica Lewinsky. 22 year old intern working for the President
THE DEMOCRAT PARTY’S BILLIONAIRES’ GLOBALIST EMPIRE requires someone as ruthlessly dishonest as Hillary Clinton or Barack Obama to be puppet dictators.
http://hillaryclinton-whitecollarcriminal.blogspot.com/2018/09/google-rigged-it-so-illegals-would-vote.html
FAKEBOOK and GOOBLE ASSUALT FREE SPEECH TO BUILD THE GLOBALISTS’ BILLIONAIRES’ DICTATORSHIP FOR THE RICH
https://mexicanoccupation.blogspot.com/2018/10/facebook-and-google-assault-free-speech.html
VIDEO:
THE FRAUDULENT CLINTON FOUNDATION EXPOSED.
PAY-TO-PLAY FROM THE FIRST DAY!
Is it a signal that she's back in the game because she's selling her president-ability to the world's global billionaire crowd and laying the groundwork for more funds? There are all kinds of ways for foreign billionaires to get money to the U.S. without consequences, after all. What's more, it's pretty much the biggest base of support she has, which is at least one reason why she lost the 2016 election.
“The couple parlayed lives supposedly spent in “public service”
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political machine that might well be dubbed “Clinton, Inc.” This consists essentially of a seedy money-laundering operation to ensure big business support for the Clintons’ political ambitions as well as their personal fortunes.
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political machine that might well be dubbed “Clinton, Inc.” This consists essentially of a seedy money-laundering operation to ensure big business support for the Clintons’ political ambitions as well as their personal fortunes.
The basic components of the operation are lavishly paid speeches to Wall Street and Fortune 500 audiences, corporate campaign contributions, and donations to the ostensibly philanthropic Clinton Foundation.”
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now." ---- Patricia McCarthy - AMERICANTHINKER.com
GEORGE S OROS AND THE CLINTON GLOBALIST AGENDA FOR BANKSTERS AND WIDEOPEN BORDERS
NEW YORK — Demand Justice, an organization founded by former members of Hillary Clinton’s 2016 presidential campaign and associated with a “social welfare organization” financed by billionaire activist George S oros, is raising money for an eventual court fight against what the group describes as President Trump’s proposed “racist, unnecessary wall.”
“Obama would declare himself president for life with S oros really running the show, as he did for the entire Obama presidency.”
“Hillary was always small potatoes, a placeholder as it were. Her health was always suspect. And do you think the plotters would have let a doofus like Tim Kaine take office in the event that Hillary became disabled?”
THE PHONY CLINTON FOUNDATION CHARITY slush fund
“There is no controlling Bill Clinton. He does whatever he wants and runs up incredible expenses with foundation funds,” states a separate interview memo attached to the submission.
“Bill Clinton mixes and matches his personal business with that of the foundation. Many people within the foundation have tried to caution him about this but he does not listen, and there really is no talking to him,” the memo added.
HILLARY CLINTON: Serving the super-rich and filling her bottomless pockets as she does!
"And this being Hillary, with her stated presidential ambitions still remaining, it's also a distinct possibility that donations to the Clinton Foundation are still being sought, especially since they have dropped to nearly nothing now that Clinton has no influence to sell. With Hillary, it's always about money. Her stint as secretary of state was completely about pay to play, after all." MONICA SHOWALTER – AMERICAN THINKER
Is it a signal that she's back in the game because she's selling her president-ability to the world's global billionaire crowd and laying the groundwork for more funds? There are all kinds of ways for foreign billionaires to get money to the U.S. without consequences, after all. What's more, it's pretty much the biggest base of support she has, which is at least one reason why she lost the 2016 election.
THE GRIFTERS:
HILLARY CLINTON AND HER SERIAL RAPIST HUSBAND
Clintons’ political ambitions as well as their personal fortunes.
The basic components of the operation
are lavishly paid speeches to Wall Street
and Fortune 500 audiences, corporate
campaign contributions, and donations to
the ostensibly philanthropic Clinton
Foundation.”
are lavishly paid speeches to Wall Street
and Fortune 500 audiences, corporate
campaign contributions, and donations to
the ostensibly philanthropic Clinton
Foundation.”
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now." ---- Patricia McCarthy - AMERICANTHINKER.com
Why Hillary and Her Wall Street Donors Don’t Want Trump’s Wall…
NO BILLIONAIRE WANTS TO PAY LIVING WAGES TO ANY LEGALS!
"Hillary and her party supporters desperately need illegal immigrants: Hillary is bought and paid for." Michael Bargo, Jr.
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now." ---- Patricia McCarthy - AMERICANTHINKER.com
THE GRIFTERS: HILLARY, BILLARY and CHELSEA… global looters!
"But there is no doubt in my mind that the Clintons, thoroughly practiced
grifters that they are, as well as their increasingly shady daughter, will not
hesitate to use such classified information as they may be able to access for
personal and political enrichment. They've been doing it for decades, and
they're not about to stop now." RUSS VAUGHN
CLINTON MAFIA AND THEIR BANKSTERS AT GOLDMAN SACHS
WHO IS TIGHTER WITH THE PLUNDERING BANKSTERS? CLINTON, OBAMA or TRUMP?
The Clinton White House famously abolished the Glass–Steagall legislation, which separated commercial and investment banking. The move was a boon for Wall Street firms and led to major bank mergers that some analysts say helped contribute to the 2008 financial crisis.
Bill and Hillary Clinton raked in massive speaking fees from Goldman Sachs, with CNN documenting a total of at least $7.7 million in paid speeches to big financial firms, including Goldman Sachs and UBS. Hillary Clinton made $675,000 from speeches to Goldman Sachs specifically, and her husband secured more than $1,550,000 from Goldman speeches. In 2005 alone, Bill Clinton collected over $500,000 from three Goldman Sachs events.
Hillary Clinton is simply the epitome of the rabid self – a whirlpool of selfishness, greed, and malignance.
It may well be true that Donald Trump has made his greatest contribution to the nation before even taking office: the political destruction of Hillary Clinton and her infinitely corrupt machine. J.R. Dunn
"Hillary will do anything to distract you from her reckless record and the damage to the Democratic Party and the America she and The Obama's have created."
THE FINAL DAYS OF HILLARY CLINTON: MISTRESS of the SWAMP, GLOBAL BRIBES SUCKER and LOOTER OF THE POOR
“If the Constitution did not forbid cruel and unusual punishment, the sentence I would like to see imposed would place both Bill and Hillary Clinton in the same 8-by-12 cell.” ROBERT ARVAY – AMERICAN THINKER com
HILLARY & BILLARY:
The Evita and Juan Peron of Wall Street
The Evita and Juan Peron of Wall Street
The Clinton Looting of the Poor of Haiti
“The couple parlayed lives supposedly spent in “public service”
into admission into the upper stratosphere of American wealth, with incomes in
the top 0.1 percent bracket. The source of this vast wealth was a political
machine that might well be dubbed “Clinton, Inc.” This consists essentially of
a seedy money-laundering operation to ensure big business support for the
Clintons’ political ambitions as well as their personal fortunes. The basic
components of the operation are lavishly paid speeches to Wall Street and
Fortune 500 audiences, corporate campaign contributions, and donations to the
ostensibly philanthropic Clinton Foundation.”
into admission into the upper stratosphere of American wealth, with incomes in
the top 0.1 percent bracket. The source of this vast wealth was a political
machine that might well be dubbed “Clinton, Inc.” This consists essentially of
a seedy money-laundering operation to ensure big business support for the
Clintons’ political ambitions as well as their personal fortunes. The basic
components of the operation are lavishly paid speeches to Wall Street and
Fortune 500 audiences, corporate campaign contributions, and donations to the
ostensibly philanthropic Clinton Foundation.”
IT WAS BILL CLINTON WHO UNLEASHED WALL STREET’S
BIGGEST CRIMINAL BANKSTERS…. And haven’t they sucked
up the banksters’ gratuities since?
BIGGEST CRIMINAL BANKSTERS…. And haven’t they sucked
up the banksters’ gratuities since?
Only Barack Obama has serviced banksters more than Hillary
and Billary!
and Billary!
“Clinton also failed to mention how he and Hillary cashed in after his presidential tenure to make themselves multimillionaires, in part by taking tens of millions in speaking fees from Wall Street bankers.”
TRY TO SEPARATE THE CLINTON MAFIA AND DONALD TRUMP’S CRIMES FROM THEIR BANKSTER PAYMASTERS AT GOLDMAN SACHS!
Can’t be done!
NEW YORK — In the midst of a public relations nightmare, former White House Deputy National Security Adviser Dina Habib Powell took charge of Goldman Sachs’s global charitable foundation, helping to resurrect the big bank’s shattered image after it was implicated in practices that contributed to the financial crisis of 2007-2008.
*
“Clinton also failed to mention how he and Hillary cashed in after his presidential tenure to make themselves multimillionaires, in part by taking tens of millions in speaking fees from Wall Street bankers.”
TOP EVIL CORPORATIONS LOOTING AMERICA
Goldman Sachs TRUMP CRONIES – CLINTON CRONIES
JPMorgan Chase OBAMA CRONIES
ExxonMobil
Halliburton BUSH CRIME FAMILY CRONIES
British American Tobacco
Dow Chemical
DuPont
Bayer
Microsoft
Google CLINTON CRONIES
Facebook OBAMA CRONIES
Amazon
Walmart
GET THIS BOOK!
Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses
BY TIMOTHY P CARNEY
Editorial Reviews
Obama Is Making You Poorer—But Who’s Getting Rich?
Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores, and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s OBAMANOMICS TO SERVE THE RICH AND GLOBALIST BILLIONAIRES.
*
OBAMA-CLINTONOMICS: You were wondering how many jobs went to illegals and how well Obama’s crony banksters have done???
The sputtering economic recovering under President Obama, the last to follow a major recession, has fallen way short of the average recovery and ranks as the worst since the 1930s Great Depression, according to a new report.
Had the recovery under Obama been the average of the 11 since the Depression, according to the report, family incomes would be $17,000 higher, six million fewer Americans would be in poverty, and there would be six million more jobs.
LIFE OF A GRIFTER:
“Hillary Clinton will end up as one of those Mafia dons slumped in a wheelchair while the lawyers attempt to generate sympathy.
“But if she shows any sign of weakness, her cronies will begin to desert her, those she trampled on and harmed will seek payback, and the authorities will at last stir themselves to look into things. The current investigations will continue and expand. Others will be opened. Clinton can look forward to an old age spent in courthouses and committee rooms. She will end up as one of those Mafia dons slumped in a wheelchair while the lawyers attempt to generate sympathy. And that’s fine. She has earned the most Hellenic of punishments.”
“The Clintons have been a criminal enterprise since they came to power in Arkansas. The list of scandals they have generated is long and tawdry. Their principal goal then and now has always been to enrich themselves. They never once had a moral compunction about lying, cheating, selling, and stealing their way to wealth. They are the Perons of America. They eventually set up a "foundation" and the money kept rolling in.” THOMAS LIFSON / AMERICAN THINKER
No longer able to get half a million bucks for a brief speech before foreign interests seeking the favor of the American government, Bill and Hillary Clinton are going the concert tour route, hoping to cobble together another fortune built on selling a few thousand tickets per show, from about $70 to $750. THOMAS LIFSON / AMERICAN THINKER
BILL CLINTON: SERIAL RAPIST!
Why is no one helping or caring about all these women? Who Hillary Viciously went after.
The hypocrisy right now on the left is utterly stunning me.
The hypocrisy right now on the left is utterly stunning me.
Bill Clinton-12 women on record telling their stories of him sex-ually assa-ulting them starting back in college!
Imagine all the women who still have never told their stories about him?
Eileen Wellstone (1969)
Allegation: S-exual assault
Anonymous female student at Yale University (1972)
Anonymous female student at the University of Arkansas (1974)
Anonymous female lawyer (1977)
Juanita Broaddrick (1978)
R-ape
Carolyn Moffet (1979)
Elizabeth Ward (1983)
Sally Perdue (1983)
Paula Jones (1991)
Sandra Allen James (1991)
Christy Zercher (1992)
Kathleen Willey (1993)
Monica Lewinsky. 22 year old intern working for the President
EXPOSED!
THE REAL REASON SWAMP KEEPER TRUMP DECLINED TO INVESTIGATE HILLARY CLINTON AND HER PHONY CHARITY SLUSH FUND
"But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now." ---- Patricia McCarthy - AMERICANTHINKER.com
“But if she shows any sign of weakness, her cronies will begin to desert her, those she trampled on and harmed will seek payback, and the authorities will at last stir themselves to look into things. The current investigations will continue and expand. Others will be opened. Clinton can look forward to an old age spent in courthouses and committee rooms. She will end up as one of those Mafia dons slumped in a wheelchair while the lawyers attempt to generate sympathy. And that’s fine. She has earned the most Hellenic of punishments.”
DICK MORRIS:
On America’s First Family of Crime….. NO! Not the Bushes again!
Clinton global hucksterism – Selling out America like they sold out the Lincoln Bedroom.
THE SHADY POLITICS OF HILLARY CLINTON and her PAY-TO-PLAY MAFIA
The left cared nothing about that bit of collusion.
Hillary and her campaign aides have long been involved with Russia for reasons of personal gain. Clinton herself got $145 million in donations to the Clinton Foundation for allowing Russia to take over twenty percent of all uranium production in the U.S. Her campaign chairman, John Podesta, is reaping the financial benefits of being on the board of a Russian company, Joule, which he did not disclose. PATRICIA McCARTHY
Had Hillary been elected, the Clinton Foundation would be raking in even more millions than it did before. She would be happily selling access, favors and our remaining freedoms out from under us. PATRICIA McCARTHY
THE DEMOCRAT PARTY’S BILLIONAIRES’ GLOBALIST EMPIRE requires someone as ruthlessly dishonest as Hillary Clinton or Barack Obama to be puppet dictators.
http://hillaryclinton-whitecollarcriminal.blogspot.com/2018/09/google-rigged-it-so-illegals-would-vote.html
1. Globalism: Google VP Kent Walker insists that despite its repeated rejection by electorates around the world, “globalization” is an “incredible force for good.”
2. Hillary Clinton’s Democratic party: An executive nearly broke down crying because of the candidate’s loss. Not a single executive expressed anything but dismay at her defeat.
3. Immigration: Maintaining liberal immigration in the U.S is the policy that Google’s executives discussed the most.
HILLARY CLINTON’S GLOBALIST VISION:
SURRENDER OF OUR BORDERS WITH NARCOMEX AND SUCKING IN GLOBAL BRIBES FOR THE PHONY CLINTON FOUNDATION
Even though it has gone virtually unreported by corporate media, Breitbart News has extensively documented the Clintons’
longstanding support for “open borders.” Interestingly, as the Los Angeles Times observed in 2007, the Clinton’s praise for globalization and open borders frequently comes when they are
speaking before a wealthy foreign audiences and donors.
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