Former Bank Traders Have Rate Manipulation Convictions Overturned
Published 3h ago · Latest report 1h ago
Covered in 2 countries
Five former bank traders have successfully overturned their benchmark interest rate fraud convictions at the Court of Appeal.
Five former bank traders who were previously imprisoned for conspiring to manipulate benchmark interbank lending rates have had their criminal convictions successfully overturned by the Court of Appeal in Britain.
- The Court of Appeal officially threw out the convictions during the recent hearings.
- The individuals affected include Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham.
Why it matters
The case relates to long-running international investigations into the manipulation of global benchmark interest rates such as Libor, which led to numerous prosecutions across the financial sector.
What outlets agree on
The Court of Appeal has overturned the criminal convictions of five former bank traders who were previously imprisoned for manipulating benchmark lending rates.
In this story
Covered by 2 outlets
100% of the sources are Center
Lean ratings via Media Bias/Fact Check, Ad Fontes Media
- UPIEx-Barclays bankers have ther interest rate fraud convictions overturned1h ago · open ↗
- BBC NewsEx-bankers jailed for rigging rates have convictions quashed3h ago · open ↗
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