Libor latest: Accused ex-Barclays trader says he was just doing what he was trained to May 23, 2016 A former Barclays trader accused of Libor-rigging related offences told the court today that email requests by staff for certain rates were indicative of what they were trained to do. Jay Merchant, along with fellow former traders Stylianos Contogoulas, Alex Pabon and Ryan Reich and former Libor submitter Jonathan Mathew, is standing trial charged with conspiracy to defraud [...]
White-collar prosecutions edged up last year, the first increase in five years May 23, 2016 Prosecutors are cracking down on white-collar crime, with the number of prosecutions inching up for the first time in five years, research out today has found. The study by law firm Pinsent Masons discovered that there were 9,401 prosecutions for white collar crime last year, compared with 9,343 the year before. "Any increase in prosecutions [...]
Former Barclays banker tells court that bosses must have known about Libor fixes May 22, 2016 A former Barclays trader who is currently standing trial accused of Libor-rigging related offences told the court late last week that three senior figures at the bank must have known about the rate fixing. Jay Merchant, along with fellow former traders Stylianos Contogoulas, Alex Pabon and Ryan Reich and one of Barclays' former Libor submitters Jonathan Mathew, [...]
Former polymer banknote manufacturer manager sentenced over corruption-based charges May 12, 2016 Peter Chapman, 54, a former manager of polymer banknote manufacturer Innovia Securency PTY, was sentenced for two and a half years at a court in London today for corruption-related offences. Chapman was convicted yesterday on four counts of making corrupt payments to a foreign official, although he was acquitted on an additional two counts he had [...]
Former polymer banknote manufacturer manager convicted on corruption-based charges May 11, 2016 On the eve of Prime Minister David Cameron's anti-corruption summit, the fraud squad had a reason to celebrate – securing a conviction on corruption-based charges. Peter Chapman, 54, a former manager of polymer banknote manufacturer Innovia Securency PTY, was convicted today on four counts of making corrupt payments to a foreign official, although he was [...]
Former Barclays banker pleaded guilty to Libor-rigging offence May 11, 2016 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 [...]
Discgraced former banker Elena Kotova has been ordered to hand over her Mayfair flat April 28, 2016 A former high profile Russian banker has been ordered by the court to hand over her swish flat in Mayfair to the National Crime Agency (NCA). Elena Kotova, who was an executive director of the European Bank of Reconstruction and development (EBRD), was charged with bribery by Russian authorities in 2013, alleging that she solicited more than [...]
Emails between staff about fixing Libor were “improper”, says former Barclays senior executive April 26, 2016 A former senior executive at Barclays has today called emails between staff at the bank about setting Libor to better suit their trading position "improper". Eric Bommensath was formerly global head of fixed income at the bank and today gave evidence in a trial against five former Barclays employees accused of offences relating to manipulating US-dollar linked [...]
Libor trial: Barclays trader thought compliance team knew of rate setting emails, court hears April 11, 2016 One of the former Barclays traders standing trial over conspiracy to manipulate the US dollar Libor rate says he thought the bank's compliance department had access to emails between traders and rate setters, a court heard today. Defence lawyers for Stylianos Contogoulas told the court: "These messages were not transmitted with a nod and a wink." The Serious Fraud Office (SFO) has alleged that [...]
Libor scandal: Witnesses to be called this week in trial of five ex-Barclays employees accused of conspiring to rig Libor April 10, 2016 The first witnesses are due to testify this week in the trial of five ex-Barclays bankers who are accused of working together to rig Libor. Former Barclays traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich, along with one of Barclays' former Libor submitters Jonathan Mathew, have been charged with conspiracy to defraud on [...]