Bloomberg News - Ex-Barclays trader loses court battle to throw out conviction

Barclays Bank Branch

A former Barclays trader lost an attempt to have an appeals court throw out his conviction for Libor-rigging, as judges rejected complaints about a key witness for the prosecution.

Bloomberg News reports that Alex Pabon’s request was thrown out by the Court of Appeal in London Tuesday, months after he had been released from prison. The ruling makes it less likely that similar convictions would be overturned, securing those of other bankers caught up in the Libor scandal, including former UBS Group AG trader Tom Hayes.

Pabon’s appeal had been based on the claim that statements made by a prosecution witness, Saul Haydon Rowe, on Libor could no longer be considered credible after it emerged he’d asked friends for help during court breaks. Rowe had also been a witness in the other Libor-rigging cases.

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Ex-Barclays Trader Pabon Loses Appeal Over Libor Conviction

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