Three Ex-Barclays Traders Found Guilty of Fraud in Libor Trial

by Tim Wallace

Three former Barclays traders have been found guilty of conspiracy to defraud after a three-month trial at Southwark Crown Court.

Jay Merchant, Jonathan Mathew and Alex Pabon were all accused of attempting to manipulate interest rate benchmark Libor between June 2005 and September 2007, and were found guilty by the jury.

They will join Peter Johnson, another former Barclays trader who previously pleaded guilty, in court on Wednesday for sentencing.

The jury failed to reach a verdict on two other defendants, Stylianos Contogoulas and Ryan Reich.

Continue Reading at…