UT (Tax & Chancery) UT-2022-0000150 - [2024] UKUT 00254 (TCC)

In 2014 and 2016 Mr Kalaris provided pre-prepared statements for the Serious Fraud Office (“SFO”) about the capital raising, and on 19 and 20 September 2016 was interviewed by the SFO on a voluntary basis. He provided a third statement on 26 October 2016.

On 20 June 2017 Mr Kalaris and four other senior Barclays executives were charged with conspiracy to commit fraud by false representation in relation to the June and October 2008 capital raising; the trial began in January 2019. In April 2019, the charges were dismissed by the judge on the basis that there was no case to answer. In June 2019, the Court of Appeal allowed an appeal, and Mr Kalaris and two other executives were retried. That hearing began in October 2019 and ended on 28 February 2020, when all three were acquitted.