Ex-Barclays trader says pressured to lie about Libor setting

One of five former Barclays bankers on trial for the alleged rigging of a key Libor benchmark told a court on Friday he had lied about submitting rates for traders because he felt under pressure from his manager and the bank to “toe the line”.

Jonathan Mathew told the court that he had felt pressured by his manager at the time, Peter Johnson, who jurors heard this week had pleaded guilty in October 2014 to conspiring to manipulate Libor.

Johnson is the first man in Britain to plead guilty to charges related to Libor.

On Friday, Mathew told a London court that he had lied to investigators about taking requests from traders in making submissions to the benchmark, because he was worried he would lose his job and was scared about going up against his boss.

Read on.

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