LIBOR acquittal raises questions over future trials

Moderator: moderators
rank: 1000+ posts
rank: 1000+ posts
Posts: 4409
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

LIBOR acquittal raises questions over future trials

Postby » Thu Jan 28, 2016 11:08 am

Six former brokers accused of conspiring to rig LIBOR were acquitted this week by a jury following a four-month trial.

The Serious Fraud Office (SFO) alleged that all six defendants – who between them worked for ICAP, RP Martin Holdings, and Tullett Prebon – conspired with former trader Tom Hayes to defraud by agreeing, upon instruction by Hayes, to influence the submissions of panel banks in the Yen LIBOR setting process.

Hayes was convicted last year and ultimately sentenced to 11 years’ imprisonment.

A legal expert speaking to Finance Magnates said that the defense turned what the SFO believed was strong evidence against the ... (read more)

Please add to your ad blocker white list.
Thank you for your support.

Return to “news”