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Report: Former Barclays trader says bosses approved LIBOR manipulation practice

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Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Report: Former Barclays trader says bosses approved LIBOR manipulation practice

Jay Merchant, a former Barclays Plc trader charged with LIBOR rigging, alleged thathis bosses, Mike Bagguley, Harry Harrison and Eric Bommensath, had approved thepractice, Reuters reported April 7.

Merchant's allegations, first made in 2014, were revealed incourt on April 7.

The individuals named by Merchant denied the allegations,and are expected to appear as witnesses for the prosecution in the trial of ex-Barclaystraders, Reuters reported. Along with Merchant, the otherson trial are Alex Pabon, Ryan Reich, Stylianos Contogoulas and Jonathan Mathew.