Libor Fixing: Ex-Barclays Traders Found Guilty

Three former Barclays traders have been found guilty of conspiring to fraudulently manipulate global benchmark interest rates.

Jay Merchant, 45, a trader and the most senior of the men on trial, was convicted unanimously at Southwark Crown Court.

Former Libor submitter Jonathan Mathew, 35, and former trader Alex Pabon, a 38-year-old American, were found guilty by a majority verdict after the 10-week trial.

The Serious Fraud Office (SFO) claimed the men were dishonest when they submitted or asked colleagues to submit Libor rates that would benefit trading positions and prejudice the economic interests of others.

Read on.

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