Ex-Barclays traders jailed for rigging interest rates have convictions quashed
The UK Court of Appeal has quashed the convictions of five former Barclays traders previously jailed for rigging Libor and Euribor interest rates. This decision follows a broader trend of overturning historical convictions related to the 2010s banking scandal.
Why it matters
The ruling marks a significant legal reversal in one of the most high-profile financial fraud cases of the last decade, raising questions about the original prosecutions.
Colin Bermingham (third from left) and Alex Pabon (fourth from right) with supporters including David Davis MP outside the Royal Courts of Justice on Wednesday. Photograph: Jack Hudson/PA Colin Bermingham (third from left) and Alex Pabon (fourth from right) with supporters including David Davis MP outside the Royal Courts of Justice on Wednesday. Photograph: Jack Hudson/PA Banking Ex-Barclays traders jailed for rigging interest rates have convictions quashed Acquittals of five former bankers come year after supreme court overturned ruling against City trader Tom Hayes
Prefer the Guardian on Google Five more former traders who were jailed for rigging interest rates have had their convictions quashed by the court of appeal in London, after a long battle to clear their names.
The court overturned the convictions of Jay Vijay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham – all of whom worked at Barclays .
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