Former Barclays banker pleaded guilty to Libor-rigging offence

Hayley Kirton
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A man uses a cashpoint machine at a Barc
A reporting restriction prevented Johnson's plea from being reported (Source: Getty)

A former Barclays banker pleaded guilty to offences related to Libor-rigging around 19 months ago, fraud squad prosecutors said in court today.

Peter Johnson pleaded guilty to conspiracy to defraud in October 2014 after charges were brought against him earlier that year, but a reporting restriction preventing him from being named was not lifted until today.

Johnson's plea made him the first person to be convicted as a result of the Serious Fraud Office's (SFO) investigation into Libor, which was launched in July 2012.

In August 2015, former UBS and Citigroup trader Tom Hayes became the first person to be found guilty for Libor-related offences. He was initially sentenced to 14 years in prison, but this was later reduced to 11 years on appeal.

Earlier this year, six former brokers who were alleged to have conspired with Hayes were acquitted.

A third trial related to the Libor investigation is currently being heard at Southwark Crown Court.