UK Court Clears Five Ex-Barclays Traders
London appeal judges have quashed the convictions of five former Barclays traders involved in global benchmark interest rate rigging. The ruling follows a Supreme Court precedent regarding trial errors. The Serious Fraud Office did not oppose the appeals.
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London’s Court of Appeal quashed the convictions of five former traders on Wednesday, delivering another blow to the United Kingdom Serious Fraud Office. The ruling follows a Supreme Court precedent from last year that dismantled landmark Libor manipulation cases. The decision provides legal vindication for traders who spent years fighting convictions tied to post-crisis banking investigations.
