Barclays Traders Have Convictions Quashed

The Court of Appeal has quashed the convictions of five former Barclays traders who were jailed for rigging interest rates. The traders, Jay Vijay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon, and Colin Bermingham, were previously jailed for their roles in manipulating the Euribor and Libor rates. The convictions were overturned after the UK supreme court found faults in the original trials.

This decision comes a year after the supreme court overturned a ruling against City trader Tom Hayes. The traders had their convictions overturned by the Court of Appeal in London.

The Court of Appeal made the decision to quash the convictions, which is a significant development in the case. The traders were convicted for manipulating interest rates used for loans between banks, but their convictions have now been overturned.