Here is what the page “Former Barclays traders see Euribor rate-rigging convictions quashed by Court of Appeal” contains. Five former Barclays traders—Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham—have had their convictions for manipulating the Euribor benchmark interest rate overturned by the Court of Appeal in London. The men were originally found guilty of conspiracy to defraud by rigging the Euro Interbank Offered Rate, a key benchmark used to set rates on trillions of dollars in loans and derivatives. The appellate court ruled that the trial judge had misdirected the jury on a crucial element of the offence, leading to unsafe convictions.
This decision marks a significant setback for the UK Serious Fraud Office, which has spent years prosecuting individuals for benchmark manipulation following the global financial crisis. While the court did not question whether the traders had attempted to influence Euribor, it found that the prosecution had failed to prove they were dishonest by the standards of ordinary reasonable people. The full version stays on the original page, which this listing opens directly.