Euribor trials: European arrest warrant to be requested for the five traders who declined to appear at court hearing in January

Hayley Kirton
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At The Old Bailey Today
The five declined to attend a court hearing in January (Source: Getty)

Five traders who have been accused of playing a part in manipulating the Euro Interbank Offered Rate (Euribor) might soon be making their way to the UK to face charges.

It is understood that the Serious Fraud Office (SFO) will tomorrow approach a London court seeking an European arrest warrant for five individuals who declined to attend a hearing a Westminster Magistrates’ Court back in January.

The individuals are ex-Deutsche Bank employees Andreas Hauschild, Joerg Vogt, Ardalan Gharagozlou and Kai-Uwe Kappauf, and former Societe Generale worker Stephane Esper.

The five were due to be charged with conspiracy to defraud alongside six others. Those who did attend the hearing in January were ex-Deutsche Bank employee Christian Bittar, Bittar's former colleague Achim Kraemer, and former Barclays Bank staff members Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse Bohart.

The trial for the six people who were charged in January will begin in September 2017.

A charge of conspiracy to defraud carries a maximum sentence of 10 years.

A statement on the SFO's website reads that the fraud squad's investigation into Euribor continues and was brought about as part of the agency's wider investigation into Libor manipulation.

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