Five Former Traders Authorized to Challenge Libor Convictions in Britain Following Commission Ruling
Britain’s Criminal Cases Review Commission has authorized five former traders to seek fresh appeals after finding legal errors undermined their convictions.
Insights:
The Criminal Cases Review Commission said five former traders jailed in Britain 
GBfor rigging global benchmark interest rates can launch fresh attempts to overturn their convictions. This determination by the independent body, which investigates potential miscarriages of justice, allows the cases to be referred back to the appeal courts for further consideration. The commission concluded that jury misdirection and legal errors have undermined the safety of the original convictions, following a review of the legal grounds that led to previous successful appeals in the sector.
GBfor rigging global benchmark interest rates can launch fresh attempts to overturn their convictions. This determination by the independent body, which investigates potential miscarriages of justice, allows the cases to be referred back to the appeal courts for further consideration. The commission concluded that jury misdirection and legal errors have undermined the safety of the original convictions, following a review of the legal grounds that led to previous successful appeals in the sector.The five individuals named in the decision are alex pabon, jay merchant, jonathan mathew, philippe moryoussef, and colin bermingham. They turned to the commission after former traders tom hayes and carlo palombo succeeded last year in quashing their own convictions for manipulating Libor. The commission determined there is no distinguishing factor between these five cases and the cases of tom hayes and carlo palombo, finding that the same legal issues applied across the group.
