Five former brokers were acquitted of charges brought by a London jury that they assisted in manipulating Libor on Jan. 27, according to The New York Times.
The acquitted brokers are Danny M. Wilkinson and Colin J. Goodman, formerly of ICAP in London; Terry J. Farr and James A. Gilmour, formerly of RP Martin in London; and Noel Cryan, formerly of Tullett Prebon, also in London.
The five were accused of assisting Tom Hayes, a former trader at UBS and Citigroup, and others to profit from rigging Libor, which helps determine the borrowing costs for trillions of dollars in loans. Hayes was convicted in August 2015 of conspiracy to defraud. His sentence was reduced by an appeals court in December from 14 years to 11 years in prison.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
