Euribor Trader unanimously acquitted. Amanda Pinto QC & Christopher Convey representing.

The trader was unanimously acquitted of one charge of conspiracy to defraud. Other defendants have been convicted of reference rate manipulation, including Christian Bittar, Philippe Moryoussef, Carlo Palombo and Colin Bermingham.

In the re-trial that started in January, Counsel for the SFO argued that the defendants worked together and with other traders at Barclays, Deutsche Bank AG and Societe General between January 2005 and December 2009 to submit “false or misleading” estimates to the process for setting Euribor rates.

The SFO’s probe into Euribor was part of an investigation launched in 2012 into interest rate manipulation that prompted an overhaul of rate-setting rules.

If you would like to find out more, or instruct Amanda or Christopher, please contact the Practice Directors.