FinanceWednesday, October 7, 20261 min read

Former Barclays traders have rate-rigging convictions quashed

By BBC News · Published by Everything Blog

In short

Former Barclays traders who were convicted of manipulating interest rates have had their convictions overturned by the Court of Appeal. The ruling comes after the convictions of two other former City traders were also overturned last year, paving the way for others to appeal. The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, were originally convicted following trials for manipulating the interest rates used for loans between banks.

Key points

Former Barclays traders who were convicted of manipulating interest rates have had their…: Former Barclays traders who were convicted of manipulating interest rates have had their convictions overturned by the Court of Appeal.
The ruling comes after the convictions of two other former City traders were also overtur…: The ruling comes after the convictions of two other former City traders were also overturned last year, paving the way for others to appeal.
The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, an…: The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, were originally convicted following trials for manipulating the interest rates used for loans between banks.

ByAndy Verity

Financial investigations correspondent

- Published

Five former Barclays traders who were jailed in one of the biggest scandals of the financial crisis have had their convictions overturned following a long-running legal battle.

Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, Colin Bermingham were convicted following trials for manipulating the interest rates used for loans between banks.

But their convictions were quashed on Wednesday by the Court of Appeal. The ruling came after two other former City traders had their convictions overturned last year, which has paved the way for others to appeal.

The traders were cast by prosecutors as a symbol of banker greed amid public backlash and anger during the 2008 financial crisis.

Original source: www.bbc.co.uk

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In short

Key Points

Former Barclays traders who were convicted of manipulating interest rates have had their…: Former Barclays traders who were convicted of manipulating interest rates have had their convictions overturned by the Court of Appeal.
The ruling comes after the convictions of two other former City traders were also overtur…: The ruling comes after the convictions of two other former City traders were also overturned last year, paving the way for others to appeal.
The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, an…: The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, were originally convicted following trials for manipulating the interest rates used for loans between banks.

Topics

Finance

AI Analysis

Tone

Neutral

In short

Key Points

Former Barclays traders who were convicted of manipulating interest rates have had their…: Former Barclays traders who were convicted of manipulating interest rates have had their convictions overturned by the Court of Appeal.
The ruling comes after the convictions of two other former City traders were also overtur…: The ruling comes after the convictions of two other former City traders were also overturned last year, paving the way for others to appeal.
The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, an…: The traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, were originally convicted following trials for manipulating the interest rates used for loans between banks.

Topics

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Former Barclays traders have rate-rigging convictions quashed

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