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Three convicted in Libor rigging trial

BBC News - Jul 04, 2016
Three former Barclays employees have been found guilty of rigging the Libor interest rate between 2005 and 2007.

Jay Merchant, 45, was convicted unanimously at Southwark Crown Court of manipulating the key financial rate.

Jonathan Mathew, 35, and Alex Pabon, an American 38 year-old, were found guilty by majority verdict after a ten-week trial. The trio will be sentenced on Thursday.

The Libor rate is used by banks to set prices of financial products.
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