London court quashes rate-rigging conviction of ex-Deutsche Bank trader Bittar
DB•A London appeals court overturned Christian Bittar’s conviction for conspiring to rig Euribor, despite his 2018 guilty plea. He had been sentenced to five years and four months; eight rate-rigging convictions have now been overturned.
1. Appeal overturns conviction
The Court of Appeal quashed former Deutsche Bank trader Christian Bittar’s conviction for conspiring to rig Euribor. Bittar pleaded guilty in 2018 and was sentenced to five years and four months in prison; the court said it would publish its written reasons later.
2. SFO response and case history
The Serious Fraud Office said it respected the court’s decision and remained committed to tackling complex fraud, bribery and corruption. Bittar is the first person convicted of manipulating Euribor or Libor to have his conviction overturned after a guilty plea. Eight rate-rigging convictions have now been overturned.
