Rate-Rigging Convictions Deliver Much Needed Win For SFO

Law360, London (April 1, 2019, 10:49 PM BST) -- The convictions of two former Barclays traders for manipulating Euribor has given the embattled Serious Fraud Office a boost at the tail end of its long-running rate-rigging probes in the wake of criticism for its handling of several recent high-profile prosecutions.

Though the watchdog has had mixed success over the last few years persuading juries that a number of traders broke the law by seeking to manipulate key benchmark interest rates, it secured the convictions of two out of three bankers on trial in the latest case over the Euro interbank offered rate.

And on Monday a Southwark Crown Court judge sentenced Colin Bermingham,...

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