trending Market Intelligence /marketintelligence/en/news-insights/trending/CSg-ts0LUnl6dyWCOlB1Bg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: 4 ex-Barclays bankers get prison terms for LIBOR rigging

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Report: 4 ex-Barclays bankers get prison terms for LIBOR rigging

Four formeremployees of BarclaysPlc received prison sentences of up to 6.5 years after beingconvicted ofconspiring to rigLIBOR, the Financial Times reportedJuly 7.

JayMerchant, the most senior of the group, got 6.5 years from a judge at SouthwarkCrown Court in London, while LIBOR submitter Jonathan Mathew received a four-yearterm. Trader Alex Pabon was given a sentence of two years and nine months,according to the report.

PeterJohnson, who was Barclays' main LIBOR submitter, was also sentenced July 7,having pleaded guiltyin 2014. He got a four-year term.

Johnson wasa key figure during the trial of the other three defendants, Bloomberg Newswrote the same day, citing testimony that he was known to bully employees,including physical abuse.

Two otherdefendants in the case, Stylianos Contogoulas and Ryan Reich, will face aretrial after a juryfailed to reach verdicts on the charges against them.

Under U.K.law, the quartet will serve half their sentences in custody with the remainderon license, the FT noted.