Convicted Libor trader appeals denied


Three former Barclays traders sent to prison for Libor manipulation were denied permission to appeal their convictions by a U.K. judge, narrowing the possibility that their guilty verdicts will be overturned.

Bloomberg News reports that requests for an appeal by Jonathan Mathew, Alex Pabon and Jay Merchant were all turned down by a London judge earlier this month, a court clerk said Friday. Merchant was also denied leave to challenge his 6 1/2-year sentence, the clerk said.

The men were found guilty in July following a three-month trial in which they were accused of conspiring with other Barclays employees to rig the London interbank offered rate between 2005 and 2007. Mathew received a 4-year sentence, while Pabon was handed 2 years and 9 months. Another ex-trader from the British bank, Peter Johnson, pleaded guilty in October 2014 and received a 4-year sentence.

Lawyers for Mathew, Pabon and Merchant declined to comment as did a spokeswoman for the U.K. Serious Fraud Office, which prosecuted the case.

To access the complete Bloomberg News article hit the link below:

Jailed Barclays Libor Traders Lose Bid to Appeal Convictions

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