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The Independent UK
The Independent UK
National
Jack Hudson

Ex-bankers jailed for manipulating interest rates have convictions quashed

SFO Tom Hayes Interest Rates Barclays the Serious Fraud Office Carlo Palombo Edis Euribor the Supreme Court the Court of Appeal
Colin Berminghan (third from left) and Alex Pabon (fourth from right) with supporters (including David Davis MP, far right) and lawyers outside the Royal Courts of Justice after their convictions were quashed - (PA)

The convictions of five bankers jailed after being accused of manipulating interest rates have been overturned at the Court of Appeal after a “wrong turn” which led to unfair errors in their trials.

Jonathan Mathew, Jay Merchant, Alex Pabon, Philippe Moryoussef and Colin Bermingham were jailed between 2016 and 2019 for offences connected to manipulating the London Inter-Bank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor).

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