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2 clusters · 5 sources · 3 days · First seen · Last updated

UK rate-rigging conviction appeals

Overview

The UK Court of Appeal has overturned several high-profile convictions related to the Libor and Euribor benchmark interest rate manipulation scandals.

Initially, the court quashed the convictions of five former Barclays traders—Philippe Moryoussef, Jay Merchant, Colin Bermingham, Jonathan Mathew, and Alex Pabon—who had received prison sentences between 33 months and eight years. The ruling noted that the evidence suggested the traders were engaging in “standard practice within professional trading desks” rather than a conspiracy against counterparties. The Serious Fraud Office did not contest these appeals.

Following this, the Court of Appeal also overturned the fraud conviction of former Deutsche Bank trader Christian Bittar. These successive acquittals follow a Supreme Court decision which found that previous trial judges had misdirected juries. Consequently, eight out of nine British convictions related to these rate-rigging investigations have been overturned, leaving only one conviction standing.

Entities

Serious Fraud Office · Christian Bittar · Barclays · UK Court of Appeal · Philippe Moryoussef

Timeline

  1. [BUSINESS] 3 sources
    UK Court of Appeal overturns Christian Bittar's rate-rigging conviction

    The UK Court of Appeal has overturned the fraud conviction of former Deutsche Bank trader Christian Bittar, leaving only one British conviction standing from the major interest rate-rigging investigations.

  2. [BUSINESS] 3 sources
    Court of Appeal quashes convictions of five former Barclays traders

    London's Court of Appeal has overturned the convictions of five former Barclays traders accused of rigging benchmark interest rates, citing errors in previous legal proceedings.

Sources

devdiscourse.com · formosadeportiva.com.ar · it-boltwise.de · upday.com · world-today-news.com