John Varley, chief executive of Barclays at the time of its 2008 emergency fundraising, signed a “blank” cheque for fees to Qatar so that it would agree to invest in the deal, according to evidence presented in court.

Varley and four other Barclays executives are on trial for conspiracy to commit fraud in relation to the 2008 deals. Prosecutors have alleged that Barclays paid extra commissions to Qatar, which it concealed by passing them off as fees for non-existent “advisory services”.