Ex-Barclays trader found guilty of euro rate-rigging

A former Barclays trader has been found guilty of rigging a key euro benchmark borrowing rate known as Euribor.

Philippe Moryoussef was convicted of conspiracy to defraud by manipulating the rate between 2005 and 2009.

The jury at Southwark Crown Court acquitted another defendant, Achim Kraemer, 51, who still works for Deutsche Bank.

Christian Bittar, a former senior trader at Deutsche Bank, pleaded guilty before the 11-week trial began.

Sentencing of Moryoussef and Bittar is expected at the end of next week.

 

Source: BBC

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