London court quashes five more UK rate-rigging convictions
BCS•London’s Court of Appeal quashed the convictions of five former Barclays traders jailed for plotting to rig global benchmark interest rates.
1. Appeal convictions quashed
The court cleared Philippe Moryoussef, Jay Merchant, Colin Bermingham, Jonathan Mathew and Alex Pabon on Wednesday. The traders had been convicted in Britain of plotting to rig benchmark interest rates.
2. Earlier rulings
The appeals followed last year’s Supreme Court decision to overturn the convictions of former UBS and Citigroup trader Tom Hayes and former Barclays trader Carlo Palombo over Libor and Euribor rigging.
