Euribor trials: European arrest warrants secured for the five former traders who declined to appear at court hearing in January

Hayley Kirton
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The Serious Fraud Office obtained the warrants late last week (Source: Getty)

The Serious Fraud Office (SFO) has secured European arrest warrants for five former traders who declined to attend a court date earlier this year.

The fraud squad obtained the warrants from a London court late last week in relation to four Germans and one Frenchman accused of playing a role in manipulating the Euro Interbank Offered Rate (Euribor).

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

The five were due to appear alongside six other traders to be charged with conspiracy to defraud at Westminster Magistrates' Court in January. The six individuals who did appear in court 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.

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

The trial for Bittar, Kraemer, Bermingham, Palombo, Moryoussef and Bohart will begin in September 2017.

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

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