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UK Court of Appeal Overturns Barclays Libor/Euribor Convictions

By Drooid · Oct 7, 2026, 4:59 PM UTC · How we work

Summary

Story summary

UK Court of Appeal quashed convictions of five former Barclays traders on Wednesday.
Traders—Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham—were convicted of Libor/Euribor manipulation.
Their conduct altered interest rates that set borrowing costs for mortgages and cars.
Two City traders had convictions overturned last year, paving the way for this appeal.
Jonathan Mathew, 45, said the overturn restores his record for his children after ten years.

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Story summary

UK Court of Appeal quashed convictions of five former Barclays traders on Wednesday.
Traders—Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham—were convicted of Libor/Euribor manipulation.
Their conduct altered interest rates that set borrowing costs for mortgages and cars.
Two City traders had convictions overturned last year, paving the way for this appeal.
Jonathan Mathew, 45, said the overturn restores his record for his children after ten years.