London court quashes rate-rigging conviction of ex-Deutsche Bank trader Bittar
DB•London’s Court of Appeal quashed Christian Bittar’s conviction for conspiring to rig Euribor, eight years after he pleaded guilty. Bittar had been sentenced to five years and four months in prison.
1. Appeal clears conviction
The Court of Appeal quashed the conviction on Friday and said it would publish its reasons later.
2. Euribor case background
Bittar pleaded guilty in 2018 to rigging Euribor, a benchmark used to help determine rates on trillions of dollars in financial contracts and loans worldwide. He appealed after senior judges overturned the convictions of five former Barclays traders on Wednesday.
