#AceNewsReport – Apr.06: Two former Barclays Plc Libor traders were acquitted by a London jury of manipulating the key interest-rate benchmark following a six-week trial, ending another chapter in a case that has cost firms $9 billion
Ryan Reich and Stylianos Contogoulas were found not guilty of conspiring with others to manipulate the U.S. dollar London interbank offered rate from 2005 to 2007 after four hours of deliberations. The case was a retrial for the pair after another jury was unable to reach a decision in July.
“VICTORY!!!!!!!!!!!! The truth always wins,” Contogoulas tweeted shortly after the verdict was read out Thursday. The panel had told the judge that it had found Reich not guilty a day earlier.
Ryan Reich and Stylianos Contogoulas
Photographer: Chris Ratcliffe/Jason Alden/BloombergThe trial took six weeksthen this happened
The verdicts add to a patchy conviction rate for the U.K. Serious Fraud Office in…
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