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Traders Abused Barclays' Euribor Role To Rig Rate, SFO Says

Law360, London (March 4, 2019, 8:53 PM GMT) -- Three former Barclays PLC traders on trial for allegedly rigging a key European interest rate benchmark used the bank’s “privileged position” to make money for its swaps traders, the Serious Fraud Office told a London jury during closing arguments Monday.

The Serious Fraud Office told a London jury during closing arguments on Monday that three former Barclays PLC traders used the bank's "privileged position" to rig the Euro Interbank Offered Rate. (AP)

SFO prosecutor James Waddington of Foundry Chambers told jurors that the traders took advantage of the fact Barclays was one of several dozen banks chosen to provide the daily...

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