LONDON, Jan 29 (Reuters) - Five former traders jailed in Britain for rigging global benchmark interest rates can launch a fresh attempt to overturn their convictions, Britain's Criminal Cases Review
Five former traders win right to appeal UK rate-rigging convictions
Legal Developments in Rate-Rigging Cases
LONDON, Jan 29 (Reuters) - Five former traders jailed in Britain for rigging global benchmark interest rates can launch a fresh attempt to overturn their convictions, Britain's Criminal Cases Review Commission (CCRC) said on Thursday.
Background of the Convictions
Alex Pabon, Jay Merchant, Jonathan Mathew, Philippe Moryoussef and Colin Bermingham turned to the CCRC after former traders Tom Hayes and Carlo Palombo succeeded last year in quashing their convictions for manipulating Libor, a now-defunct interbank rate.
CCRC's Decision on Appeals
"After analysing the submissions in all five cases ..., the CCRC has determined there is no distinguishing factor between these cases and the cases of Mr Hayes and Mr Palombo, and the jury misdirection and legal errors have undermined the safety of all the convictions," the CCRC said.
Comparison with Previous Cases
(Reporting by Kirstin Ridley; Editing by Tommy Reggiori Wilkes)
