Four more traders appeal rate-rigging convictions after Supreme Court ruling
Four traders, the Supreme Court, on Wednesday, has overturned the rate of recession after overturning the case.
Jay Merchant, Jonathan Mathew, Philippe Moroussef and Christian Bittar followed by the acquittal Tom Hayes and Carlo Palombo.
All traders were sentenced to manipulating the interest rates used for loans between banks, a matter of the 2008 financial crisis, known as Libor in England.
“Following the decision of Tom Hayes and Carlo Palombo’s conviction yesterday, Four of our customers plans to object to their conviction.” He said.
“In these cases, they do not want to make more comments right now.”
Four convictions came after an investigation about whether traders from the serious fraud office manipulated Libor for snow.
Libor became the focal point of the allegations of misrepresentation after the financial crisis in 2008, and now the European equivalent Euribor reform was stopped.
Since the Supreme Court has decided in favor of Mr. Hayes and Mr. Palombo, the appeal of the four traders is probably A simpler process than Mr. Hayes and Mr. Palombo, who have discussed his case for years..
The serious fraud office refused to comment on the appeal of four traders on Thursday.
However, on Wednesday, in response to Mr. Hayes and Mr. Palombo, he said, “This judgment and the full conditions carefully think and determine that it will not be in the public interest for a re -judgment.”
In 2012, the Libor scandal was discovered that banks dropped them artificially inflating rates to make profits from trade and at the same time dropping them to mask the problems they faced after the global financial crisis erupted.
However, in 2023, The BBC revealed evidence that interest rates were a much larger and state -led “coat of arms”.During the financial crisis, under the pressure of central banks and governments around the world.
Mr. Hayes and Mr. Palombo argued that they were incorrectly prosecuted for normal commercial practices to appease the people’s anger against banks on the financial crisis.
