Three ex-Barclays traders have been found guilty of fraud for their part in rigging Libor.
The three were all convicted by jury at Southwark Crown Court following an investigation by the UK’s Serious Fraud Office into the fraudulent manipulation of benchmark global interest rates.
Jay Merchant, 45, was convicted unanimously while 35-year-old former Libor submitter Jonathan Matthew and former trader Alex Pabon, 38, were found guilty by a majority verdict following the 10-week trial.
Peter Johnson, 61, a second Libor submitter, pleaded guilty at an earlier hearing.
The sentences are expected to be handed down on Thursday, July 7.
Read more What is the Libor rate?
The jury was unable to reach a verdict on the cases of Ryan Reich, 34, and Stelios Contogoulas, 44, after nearly two weeks of deliberation.
Between 2005 and 2007, 16 banks, including Barclays , submitted daily estimates of borrowing rates to the British Banker’s Association, which used them to calculate Libor.
In 2012, Barclays became the first of 11 banks to be fined for the scandal when it was ordered to pay £290million by regulatory body the Financial Services Authority, now the Financial Conduct Authority.
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