Former Banker Convicted Of Fraud In UK Serious Fraud Office’s EURIBOR Manipulation Case

Former Barclays banker Carlo Palombo has been convicted of manipulating the Euro Interbank Offered Rate (EURIBOR) following an investigation and prosecution brought by the Serious Fraud Office.

Former Manager of the Liquidity Management Portfolio at Barclays Bank, Sisse Bohart, was acquitted.

Strict reporting restrictions remain in place and the SFO is unable to make any further comment until the conclusion of the trial.

Background

1. The Serious Fraud Office announced that it had decided to accept allegations of the manipulation of LIBOR and EURIBOR for investigation on 6 July 2012.
2. Counsel for the Prosecution
  1. James Waddington QC
  2. Emma Deacon QC
  3. Dominic Lewis
3. Counsel for the Defence
  1. For Palombo: Sean Larkin QC
  2. For Bohart: Amanda Pinto QC