Ex-bankers jailed for rigging rates have convictions quashed
The London Court of Appeal has overturned the convictions of multiple former bankers previously jailed for manipulating interest rates. Five former Barclays traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, had their convictions quashed following a long-running legal battle. Additionally, former Deutsche Bank trader Christian Bittar had his conviction overturned due to legal errors in the prosecutions. These rulings dismantle high-profile cases brought by the Serious Fraud Office.
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- ✓ The London Court of Appeal quashed the convictions of five former Barclays traders: Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham.
- ✓ Christian Bittar, a former Deutsche Bank trader jailed in 2018, also had his conviction overturned by the Court of Appeal following a legal error.
What changed
The Court of Appeal quashed the convictions of five former Barclays traders and former Deutsche Bank trader Christian Bittar.
Live updates
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Ex-Bankers Have Rate-Rigging Convictions Quashed
The London Court of Appeal has overturned the convictions of multiple former bankers previously jailed for manipulating interest rates. Five former Barclays traders, including Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, had their convictions quashed following a long-running legal battle. Additionally, former Deutsche Bank trader Christian Bittar had his conviction overturned due to legal errors in the prosecutions. These rulings dismantle high-profile cases brought by the Serious Fraud Office.
Why it matters
These rulings follow a Supreme Court decision from the previous year that overturned a ruling against City trader Tom Hayes. The collapse of these prosecutions highlights severe legal errors in previous UK rate-rigging trials stemming from the financial crisis. It leaves numerous high-profile convictions from the Serious Fraud Office dismantled.
What is confirmed
- The London Court of Appeal quashed the convictions of five former Barclays traders: Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham.
- Christian Bittar, a former Deutsche Bank trader jailed in 2018, also had his conviction overturned by the Court of Appeal following a legal error.
What to watch next
- Further legal appeals or statements from the Serious Fraud Office regarding the unraveling prosecutions
- Potential implications or compensation claims from the exonerated bankers
confidence 100%Sources used for this update (16)
- BBC — Ex-bankers jailed for rigging rates have convictions quashed
- Reuters — Five more UK rate-rigging convictions quashed as SFO prosecutions unravel
- Financial Times — Ex-Barclays traders’ rate-rigging convictions quashed
- Bloomberg.com — Ex-Barclays Traders Have Rate-Rigging Convictions Quashed by London Court
- upi — Ex-Barclays bankers have ther interest rate fraud convictions overturned
- www.bbc.co.uk — Ex-bankers jailed for rigging rates have convictions quashed - BBC News
- www.theguardian.com — Ex-Barclays traders jailed for rigging interest rates have convictions quashed | Banking
- www.bbc.co.uk — Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned - BBC
- www.yahoo.com — Widdecombe Murder Suspect Accused Of Trying To Break Into Farage's Home
- flipboard.com — The Best Watches We Saw at Rhode Island’s Fanciest Car Show
- flipboard.com — Ex-bankers jailed for rigging rates have convictions quashed
- www.marketscreener.com — Ex-Deutsche Bank trader jailed for rate-rigging has conviction quashed | MarketScreener
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