Libor retrial called for two ex-Barclays traders

The fraud squad has today ordered a retrial for two ex-Barclays traders accused of Libor-rigging offences.

Stylianos Contogoulas, 44, and Ryan Reich, 34, have been charged with conspiracy to defraud in relation to manipulating US-dollar linked Libor between June 2005 and September 2007.

The pair previously stood trial for the offence, but the jury was unable to agree on a verdict.

Contogoulas’ and Reich’s original trial started in April and ran until 20 June, when the jury was sent out for deliberation. The jury was then discharged earlier this week.

The initial trial was heard at Southwark Crown Court.

The Serious Fraud Office (SFO), which is prosecuting the case, had a fortnight from the date the jury was discharged to confirm whether it wanted the retrial the duo.

The SFO is bringing the case as part of its ongoing investigation into the Libor-fixing scandal. The investigation began four years ago.

Full story: Libor retrial called for two ex-Barclays traders: City A.M.

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