Ex-Barclays trader says he was worried he would lose his job if he didn’t lie

Barclays Canary Wharf

Jonathan Mathew, one of five former Barclays Plc employees accused of manipulating Libor, says he was pressured by his boss to lie about complying with requests from other traders to manipulate the benchmark rate.

Bloomberg News reports that Mathew, 35, said on his second day of testimony in London that Peter Johnson, his boss, pushed him to deceive bank lawyers investigating Libor manipulation in 2009. Before that, the partially deaf trader believed that he wasn’t doing anything wrong.

"I felt absolutely awful," Mathew said Friday. "I was worried I would lose my job if I didn’t" lie.

Prosecutors say that Mathew and four of his colleagues conspired to rig the London interbank offered rate, a benchmark tied to trillions of dollars in securities and loans. Jurors were told earlier this week that Johnson pleaded guilty to rigging Libor in 2012.

Hit the link below to access the complete Bloomberg News article:

Ex-Barclays Trader Says He Was Told to Lie About Libor Requests

Citigroup Said to Disband Raytcheva’s Proprietary-Trading Team

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts