Libor jury now has a verdict for three ex-Barclays bankers

Gavel

The jury on the most recent Libor case to go to court in the UK has arrived at a verdict for three of the men charged, but is still deliberating on the other two defendants.

Former Barclays traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich and former Libor submitter Jonathan Mathew are all standing trial charged with conspiracy to defraud on allegations of conspiring to manipulate US-dollar linked Libor between June 2005 and September 2007.

The trial, which is being heard at Southwark Crown Court and started in April, is the third brought to court by the Serious Fraud Office in its ongoing investigation into Libor manipulation.

The jury was initially sent out to consider its verdict on last Monday.

Last Thursday, the jury said it had reached a decision for one of the men but had failed to unanimously agree on the other four. Judge Leonard then instructed the jury that he would accept a majority verdict on the men they were still undecided on.

Full story: Libor jury now has a verdict for three ex-Barclays bankers: City A.M.

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