Three former Barclays traders have been found guilty of "conspiring to fraudulently manipulate global benchmark interest rates", following a 10-week trial. The verdict has been hailed as a victory for the Serious Fraud Office (SFO) and a "warning to junior traders". Former trader Andrew Tyrie, who was jailed in 2013, had previously pleaded not guilty. Barclays was the first of 11 banks to be fined over allegations of Libor fixing, with financial penalties totalling $9bn.
Three former Barclays traders have been found guilty of "conspiring to fraudulently manipulate global benchmark interest rates", following a 10-week trial. The verdict has been hailed as a victory for the Serious Fraud Office (SFO) and a "warning to junior traders". The jury failed to reach a verdict on two other defendants, and the SFO has 14 days to decide whether to seek a fresh trial. Barclays was the first of 11 banks to be fined over allegations of Libor fixing, with financial penalties totalling $9bn.