Five former Barclays traders jailed in Britain for plotting to rig global benchmark interest rates won an appeal to clear their names on Wednesday. London’s Court of Appeal quashed the convictions of Philippe Moryoussef, from France, Calcutta-born Jay Merchant, Britons Colin Bermingham and Jonathan Mathew and Alex Pabon, an American. Judges will lay out their reasons later on Wednesday.
The decision further unravels some of the UK Serious Fraud Office’s most high-profile prosecutions.