Libor retrial of ex-Barclays traders set for next February

 
Hayley Kirton
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Stylianos Contogoulas is one of the two men being retried (Source: Getty)

Two ex-Barclays bankers were today handed a metaphorical save the date card to head back to court, where they'll face accusations of Libor-rigging.

Stylianos Contogoulas, 44, and Ryan Reich, 34, who have been charged with conspiracy to defraud, will be tried at Southwark Crown Court on 13 February 2017.

The prosecution alleges that the pair played a role in a scheme to fix the benchmark rate in their favour between 1 June 2005 and 1 September 2007.

The two men have already been through one trial, which was also heard at Southwark Crown Court, on the same issue this year. However, the jury was discharged having been unable to reach a verdict.

At the time the jury was discharged, the Serious Fraud Office (SFO) was given two weeks to decide whether it would retry the men. The fraud squad took just two days to make its decision.

The SFO has brought the case as part of its ongoing investigation into the Libor-fixing scandal. The investigation began four years ago.

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