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Former Barclays traders have rate-rigging convictions quashed
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Five former Barclays traders who were previously jailed for manipulating interbank lending rates during the financial crisis have had their convictions overturned by the Court of Appeal.
Wichtige Punkte
- Five former Barclays traders—Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham—had their convictions quashed.
- The traders were originally convicted of manipulating interest rates used for loans between banks.
- The Court of Appeal's ruling follows similar successful appeals by two other former City traders last year.
- The original prosecutions occurred amidst widespread public anger and backlash regarding banker greed during the 2008 financial crisis.