Ex-Barclays Trader Blames Bat-Wielding Boss For Libor Rig

By Alex Davis (May 12, 2016, 7:25 PM BST) -- A former Barclays trader accused of trying to manipulate the Libor testified in a London court Thursday that he was following the directions of his boss, who he said would "whack" him with a 12-inch toy bat if he made mistakes in his work.

Jonathan Mathew, who was one of the traders responsible for submitting the bank's view on the London interbank offered rate charged for borrowing various currencies, told the court that his boss, Peter Johnson, told him how to submit the rates.

Johnson, the former chief Libor submitter for U.S. dollars who already pled guilty in October 2014 to...

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