Three Former Barclays Traders Found Guilty in Libor Trial
Posted: Mon Jul 04, 2016 12:15 pm
Libor-trio Jonathan Mathew, Jay Merchant, and Alex Pabon have been found guilty of conspiring with other Barclays employees to rig the London interbank offered rate (Libor) four years after Barclays paid out $385 million in fines for their part in fixing the benchmark rate.
The news comes less than one month after Finance Magnates reported that the jury had arrived at a guilty verdict on one of the defendants.
The huge fines imposed prompted a global scandal during which CEO Bob Diamond lost his job and resulted in regulators eventually imposing around $9 billion in penalties on the financial industry.
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