Three Ex-Barclays traders GUILTY of rigging key Libor bank rates…(Hang ‘Em…)
THREE former Barclays employees have been found guilty of rigging a key bank interest rate between 2005 and 2007.
By LANA CLEMENTS
Express.co.uk
Jul 4, 2016
Jay Merchant, 45, Jonathan Mathew, 35, and Alex Pabon, 38, were found to have conspired to defraud the US dollar Libor at Southwark Crown Court.
The trio will be sentenced later this week, after the ten-week trial found them guilty.
However, the jury was unable to reach a verdict on two other defendants, Ryan Reich, 34, and Stelios Contogoulas, 44, according to the BBC.
The Serious Fraud Office (SFO) now has to decide whether Mr Reich and Mr Contogoulas will stand for retrial.
Libor (London Interbank Offered Rate) underpins hundreds of trillions of pounds of contracts, including mortgages and loans, as well as corporate lending.
The Rest…HERE
