SENIOR BANKERS SENTENCED TO NINE YEARS FOR RIGGING EURIBOR RATE
April 1st, 2019
Two senior Barclays bankers, Carlo Palombo and Colin Bermingham, were sentenced to a total of nine years imprisonment at Southwark Crown Court on April 1 for manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the global financial crisis. In a case brought by the UK Serious Fraud Office (SFO), the court sentenced former vice president of Euro rates, Palombo, to four years, and former managing director, Bermingham, to five years in prison. The duo conspired together with former principal trader at Deutsche Bank, Christian Bittar, and former ...
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