Fraud: Fraud Office and Case

fraud: Ed Brown QC, prosecuting on behalf of the Serious Fraud Office, said the case would examine how those at the very top of the bank responded to the pressure that it created . As the trial, which is expected to last four to six months, began at Southwark crown court on Wednesday, the judge Mr Justice Robert Jay told the jury to to put aside their feelings towards bankers and the damage the financial crisis caused to society, according to The Guardian. The backdrop of this case is the global financial crisis of 2008, Brown told the jury. John Varley, the former chief executive of Barclays, is the first boss of a major bank to face a jury trial over alleged crimes during the global financial crisis a decade ago. The first obvious and outward sign of it, at least to the UK public, was the closing of the doors of the bank Northern Rock in 2007. Brown alleged that Varley, and the other former Barclays bosses, made secret payments to Qatar in order to secure investment from the Gulf state and therefore avoid a UK government bailout. However, the crisis in the UK and across the world worsened and deepened as time went on and into 2008. (news.financializer.com). As reported in the news.